Gases de Occidente Advances Bond

Gases de Occidente has been authorized to sell COP200bn ($110m) in Colombia’s domestic bond market, it says. The issuer can choose from five possible tranches, with terms between two and 20 years. The proceeds are being used to replace existing liabilities and pay for investments. Corficolombiana is managing the sale, rated AAA on a national scale. Elsewhere in Colombia’s market, Emgesa is planning to issue up to COP300bn ($166m) Wednesday, with the ability to upsize to COP500bn.