The Terpel Organization is preparing its reappearance in the BVC (Spanish acronym for Colombian Stock Market) through a bond issuance which is seeking to raise 700.000 million COP$.
According to the press release presented by the Terpel Organization the maturity of the bonds will be between 18 months and 20 years and that currently the IPO is under study of the Superintendence of Finance.
The subsidiary of Fitch Ratings in Colombia the financial resources raised from the issuance will go to the rebuilding of the financial obligations of the company, which is expected to contribute to free the cash flow.
The company also plans to reduce some of the current debt with the proceeds of the sale of the operation in Chile and which expects to receive about 270 million dollars in 2013.
Fitch Ratings Colombia assigned 'AAA' rating to the long-term national Terpel Organization and 'F1 +' (also the best) to short-term obligations.