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Banco Finandina to offer up to 120B Colombian pesos in bonds

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Banco Finandina to offer up to 120B Colombian pesos in bonds

Banco Finandina SA on Nov. 23 will offer bonds worth 100.00 billion Colombian pesos, expandable up to 120.00 billion pesos.

The bank will issue the securities in two series on the same day.

The 36-month Series A A36 bonds carry a fixed interest rate of 7.30%. Meanwhile, the 36-month Series C C36 bonds carry an interest rate of 3.50% on top of the IPC official Colombian Consumer Price Index.

The proceeds from the offering will be used to bolster the bank's resources for the development of credit operations and to partially cover funding sources.

As of Nov. 21, US$1 was equivalent to 3,000.82 Colombian pesos.