24 de septiembre de 2014 / 18:54 / en 3 años

Colombia's Codensa, Promigas to issue up to $693 million in bonds

BOGOTA, Sept 24 (Reuters) - Colombian electric company Codensa and gas provider Promigas will release bonds worth up to a total of 1.38 trillion pesos ($693 million), the companies said separately on Wednesday.

Codensa will issue up to $185 billion pesos ($92.6 million) in bonds on the local market on Thursday.

“The funds raised through this release will be used to finance our cash flow needs in the long term, including our working capital and investment plan,” the company said in a statement.

Codensa is owned by the Empresa de Energia de Bogota and Chilean company Enersis , which is a branch of European-owned Endesa.

Promigas announced it will issue ordinary bonds for up to 1.2 trillion pesos ($606 million) on both the local and international markets.

Promigas, owned by holding company Corficolombiana, will issue paper for between 2 and 20 years, the company said. It did not say when the issue would take place.

$1 = 1,997.91 Colombian pesos Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Richard Chang

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