BANCO DE OCCIDENTE WOULD RAISE 275.000 MILLION COP$ IN BONDS

BANCO DE OCCIDENTE WOULD RAISE 275.000 MILLION COP$ IN BONDS

The consumption growth, the good performance of the economy, the good outlook of domestic economy and the high rate of banking are motivating the banks to place debt in order to acquire capital work.

Now is the turn of Banco de Occidente which is planning to place bonds for a total amount of 275.000 million COP$ in August the 9^th. This issuance is part of the approval amounted by the Superintendence of Finance, which gave to the Banco de Occidente a quota of issuance of 3 billion COP$, from which the bank already made 3 placements in the year.

According to some analysts the bank will be offering 4 kind of bonds in the market:

1)      3 years yield indexed to the DTF

2)      5 years yield indexed to the DTF

3)      5 years yield indexed to the IPC

4)      10 years yield indexed to the IPC

It is expected that the next week the bank will be publishing the official terms for the bond issuance.