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Colombia's Banco de Occidente places 400B pesos of bonds

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Colombia's Banco de Occidente places 400B pesos of bonds

Banco de Occidente SA on Dec. 14 placed 400.0 billion Colombian pesos worth of ordinary bonds in an oversubscribed offering.

The company said it awarded 184.86 billion pesos worth of series A, 36-month bonds with a cutoff rate of 6.18%, 103.94 billion pesos of series A, 60-month bonds with a cutoff rate of 6.65%, and 111.20 billion pesos of series B, 180-month bonds with a cutoff rate of 3.84%.

Demand for all of bond series exceeded the amounts awarded, with offer totals ranging from 144.70 billion pesos for the 180-month bonds to 339.39 billion pesos for the 36-month securities.

The bank also received offers totaling 27.44 billion pesos for its 120-month, series B bonds, but it did not place any of those instruments.

As of Dec. 14, US$1 was equivalent to 3,000.61 Colombian pesos.