Terpel Ready for Local Bond

Colombian fuel company Terpel is scheduled to issue up to COP700bn ($385m) in domestic bonds today, according to a prospectus. It is able to choose among 2018 inflation-linked bonds paying up to 3.30%, 2020 bonds paying up to 6.20%, 2023 inflation-linked bonds paying up to 3.60% and 2031 inflation-linked bonds paying up to 4.10%. Terpel is seeking funds to refinance debt. Bancolombia is leading the sale, rated AAA on a national scale, with Asesores en Valores and Corredores Asociados as bookrunners.