Surtigas Set for COP Sale

Surtigas is scheduled to sell up to COP200bn ($112m) in Colombia’s domestic bond market today, according to people familiar with the Colombian gas distributor’s plans. It is expected to issue tranches of 10 and 20 years, with maximum interest rates of IPC+3.70% and IPC+4.05%, respectively. The issuer is raising funds to repay debt. Corficolombiana is structuring agent and lead bookrunner, with Casa de Bolsa along as a bookrunner. This is the company’s second bond issuance, and first since a COP60bn deal in 2004. It is shaping up to be an active week for the Colombian local bond market. Banco Davivienda is preparing a sale for Wednesday and Findeter plans to raise debt on Friday.