November 22, 2018 / 7:59 PM / 20 days ago

Brazil's Itau issues $98.3 mln of peso bonds in Colombia

BOGOTA, Nov 22 (Reuters) - Brazilian bank Itau on Thursday issued bonds worth 314 billion pesos ($98.3 million) in Colombia to be used to fund consumer loans in the Andean nation, the bank said.

The issue, the fifth of a program that ends in 2021, received demand equivalent to 1.53 times the amount placed, Itau said in a statement.

The 48-month bonds were placed to yield inflation plus 2.91 percent, while the 30-month securities will pay the local IBR rate plus 1.20 percent, Itau said.

1 dollar = 3,196.26 pesos Reporting by Nelson Bocanegra Writing by Helen Murphy Editing by Bill Trott

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