June 6, 2018 / 5:57 PM / 4 months ago

Colombia's Terpel to issue up to $384 mln in local bonds

BOGOTA, June 6 (Reuters) - Colombian fuel distribution company Terpel will issue up to 1.1 trillion pesos ($384 million) in local bonds in a bid to pay off debt, the company said on Wednesday.

Terpel, a unit of Chile’s Copec, will issue 5, 10, 15 and 25-year paper, it said in a filing with the financial regulator. Its initial offer will be 900 billion pesos, with the option to increase it by 200 billion pesos.

The money raised will go to pay off debts owed by the company, it said, and is part of 1.5 trillion pesos in planned issuance.

$1 = 2,865.37 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Phil Berlowitz

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