17 de febrero de 2015 / 17:58 / en 3 años

Banco Popular, Terpel to issue up to $337 mln in local bonds

BOGOTA, Feb 17 (Reuters) - Colombia’s Banco Popular , part of the country’s largest banking conglomerate, and Chilean fuel distributor Terpel plan to issue up to $337 million in bonds on Tuesday and Wednesday, the companies said in filings to Colombia’s financial regulator.

Banco Popular, part of the Grupo Aval conglomerate, will issue 250 billion pesos ($105.2 million) in bonds on Tuesday coming due in two, three and five years. It may expand the offer to 400 billion pesos if demand is strong enough.

Terpel, a subsidiary of Chile’s Empresas Copec, will issue 400 billion pesos ($168.3 million) in bonds on Wednesday, coming due in seven and 15 years.

The seven-year bond will yield 3.4 percent on top of the inflation rate and the 15-year bond will yield 4.3 percent over inflation, the company said in a statement to the regulator.

Colombia’s third largest bank, Davivienda, issued 700 billion pesos ($294.6 million) in bonds last week. The sale was more than doubly oversubscribed.

Analysts have predicted that about 15 companies will issue bonds on the Colombian market this year, including state oil company Ecopetrol.

$1 = 2,376.23 Colombian pesos Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Peter Murphy and David Gregorio

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