Colombia's Grupo Argos increases space for possible bond issues by $246 mln

BOGOTA, Aug 15 (Reuters) - Colombian investment holding company Grupo Argos will increase its tranche for potential bond releases by 850 billion pesos ($246.4 million), the company said on Thursday.

The increase will bring the total potential tranche of ordinary and commercial paper that could be released by the company to 2.35 trillion pesos, of which 1.35 trillion has already been issued, Argos said in a statement to Colombia’s financial regulator.

Argos’ subsidiaries include cement-maker Cementos Argos , energy company Celsia and infrastructure operator Odinsa.

Argos said on Tuesday its net profit increased 16% in the first half of the year to 265 billion pesos compared with the year-ago period.

$1 = 3,449.27 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Rosalba O’Brien