Gas Natural Plots COP Issue

The Colombian unit of Gas Natural expects to issue COP300bn ($167m) in the domestic bond market, according to sources familiar with the plans, targeting an October 24 pricing. The issuer can choose from 5 and 7-year tranches and issue fixed rate or IPC-linked bonds. It is raising funds to refinance debt and for working capital. Bancolombia and BBVA are managing the deal, rated AAA on a national scale. The subsidiary of the Spanish energy company has been approved to issue up to COP500bn.