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Banco de Bogotá issues subordinated bond


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Banco de Bogotá issues subordinated bond

issued a 10-year subordinatedbond with the target ofraising between $500 million and $600 million, Reuters reported.

Demand for thedeal reached $1.3 billion, with the final price range reportedly short of the initialpegged volume of $1 billion.

The issuance,which is expected to yield at a rate of 6.5%, is under a Tier 2 structure with noloss-absorption provisions. It is rated Ba2/BBB by Moody's and Fitch, the reportnoted.