Colombian Bank Raises Local Bond

Banco de Occidente has raised COP350bn ($181m) in Colombia’s domestic bond market, according to people familiar with the terms. A COP218bn 2015 tranche pays IBR+2.08%, a COP71bn 2017 tranche pays IPC+3.89% and a COP61bn 2020 pays IPC+4.35%. Total demand reached COP756bn. Corficolombiana structured the deal, rated AAA on a national scale. Casa de Bolsa, Credicorp, Corredores Associados, Serfinco, Bancolombia, Alianza and Occidente managed. The sale followed Occidente’s COP253bn placement in May.