May 29, 2019 / 9:06 PM / a year ago

Telefonica's Colombia subsidiary issues $149 mln in bonds

BOGOTA, May 29 (Reuters) - Colombian telecommunications company Coltel, a subsidiary of Spain’s Telefonica, issued 500 billion pesos ($149 million) in bonds on the local market on Wednesday after receiving offers for nearly double that amount.

The company, which will use the funds to pay debt, offered five-year paper with a 6.65% annual yield and 10-year paper with a yield of inflation plus 3.39% annually, the stock exchange said in a statement.

The government, which is part owner of Coltel, said in August it was seeking to sell its minority stake.

Coltel operates under the brand name Movistar.

$1 = 3,362.48 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; Editing by Tom Brown

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