August 28, 2019 / 7:18 PM / 19 days ago

Colombia's Grupo Argos issues $130 mln in local bonds

BOGOTA, Aug 28 (Reuters) - Colombian holding company Grupo Argos issued 450 billion pesos ($130 million) worth of local bonds, the stock exchange said on Wednesday, in an effort to pay down debt.

The company had interest from investors for $332.6 million of paper, the exchange said in a statement.

The industrial conglomerate issued 3-year paper with a yield of inflation plus 5.78%, 6-year paper with a yield of inflation plus 2.44% and 15-year paper with a yield of inflation plus 3.20%.

The funds raised by the bonds will be used to substitute debt, Argos, whose subsidiaries include cement-maker Cementos Argos and energy company Celsia, said on Tuesday. The bonds are part of Argos’ global tranche of 2.35 trillion pesos, of which 1.8 trillion has already been issued. ($1 = 3,457.89 Colombian pesos) (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Peter Cooney)

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