Popular Heads to Bond Market

Banco Popular plans to sell up to COP250bn ($133m) in Colombia’s local bond market today, with the ability to upsize to COP400bn, it says. The Colombian bank can choose from an 18-month IBR-linked tranche, a 2-year IPC-linked tranche and a 5-year IPC-linked tranche. The bonds are rated AAA on a national scale. Banco Popular leads the deal with a group of banks, including Casa de Bolsa, Corredores Asociados, Acciones de Valores, Serfinco, Ultrabursatiles, and Credicorp.