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Banco Finandina to place 95.69B Colombian pesos

Banco Finandina SA on June 13 plans to place bonds worth 95.69 billion Colombian pesos in two sub-series through a Dutch auction.

The placement marks the second lot from an initial offering up to 120 billion pesos, expandable to 150 billion pesos. The first lot placement, which took place in October 2016, was worth 104.31 billion pesos.

The C42 sub-series will have a duration of 42 months, while the C66 sub-series will have a duration of 66 months.

Both series will carry an interest rate at a spread above Colombia's consumer price index, IPC.

The issuance is part of the bank's sixth issuance under its global bonds program for up to 1.2 trillion pesos.

Bancolombia, Credicorp Capital Securities, Grupo Aval Acciones y Valores, Ultraserfinco and Alianza Valores will act as placement agents.

As of June 9, US$1 was equivalent to 2,921.00 Colombian pesos.