Colombia’s Popular Raises Local Funds

Banco Popular has issued COP400bn ($222m) in Colombia’s domestic bond market, upsizing from COP250bn, according to a person familiar with the transaction. The Colombian bank issued COP80.9bn in 2014 bonds with an interest rate of 6.30%, COP40.6bn in 2015 bonds with an interest rate of 6.39%, and COP278.4bn in 2017 inflation-linked bonds with an interest rate of 3.69%. Demand came in around COP622bn. Popular self-led the transaction, rated AAA.