June 7, 2018 / 7:14 PM / 4 months ago

Colombia's Terpel issues $389 mln in local bonds

BOGOTA, June 7 (Reuters) - Colombian fuel distribution company Terpel issued 1.1 trillion pesos ($389 million) in local bonds on Thursday, after receiving offers for 1.46 trillion pesos.

Terpel, a unit of Chile’s Copec, issued 5-year paper with 2.88 percent yield, 10-year paper with 3.6 percent yield, 15-year paper with 3.86 percent yield and 25-year paper with 4.02 percent yield, the Colombian stock exchange said in a statement.

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

$1 = 2,828.42 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; Editing by Cynthia Osterman

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