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UPDATE 1-Colombia Bancolombia plans $211 mln in local bonds

Wed Aug 20, 2008 7:12pm EDT

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(Adds details of bond issue, paragraph 2)

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BOGOTA, Aug 20 (Reuters) - Colombia's Bancolombia, (CIB.N)BIC.CN the country's largest private bank, plans to issue 400 billion pesos or $211 million in local bonds, the bank said in a statement on Wednesday.

The issue is the second for the bank in an operation announced in September. Bancolombia is controlled by local Grupo Empresarial Antioqueno, or GEA holding group. (Reporting by Nelson Bocanegra; Editing by Gary Hill)

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