PROMIGAS COULD ISSUE BOND DEBT.

PROMIGAS COULD ISSUE BOND DEBT.

Promigas is a Colombian company with a portfolio of services that varies from natural gas transportation to assesment and technical studies, is analizing the posibility to issue bonds to refinance their debt.

The service provider add its name to the list of colombian companies that are taking advantage of the low interest rates around the world to issue debt in form of bonds to refinance their own private debts, and are drawing on a substantial saving in interest payments.

The Colombian Financial Superintendence gave the approval for an issue of 300 millon usd in the international market, but the company is waiting for the results of their affiliates Gases de Occidente and Surtigas, because in case that these two companies also get the approval for a bond issuing, Promigas could go to the international capital market seeking for a total issue of 600 millon usd.

Anyway the analysts said that the wisest thing would be to wait until the end of the uncertainty for the future of Greece, Spain, Italy and the EuroZone.