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