May 8, 2020 / 4:50 PM / 22 days ago

Colombia's Grupo Energia Bogota gets go-ahead to issue $400 mln in bonds

BOGOTA, May 8 (Reuters) - Colombian energy conglomerate Grupo Energia Bogota said on Friday it has received authorization from the finance ministry to issue up to $400 million in bonds on the international market.

The company, which is majority owned by the city of Bogota, did not give a date for the issue but said in a statement to the country’s financial regulator the funds raised would go toward its investment plan.

Grupo Energia Bogota, which has interests in electric energy and natural gas in Brazil, Colombia, Guatemala and Peru, took out about $100 million in loans from a local bank in mid-April to finance cash flow needs.

$1 = 3,924.54 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Chris Reese

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