September 18, 2019 / 7:50 PM / a month ago

Colombia's Banco de Occidente issues $118.3 million in bonds

BOGOTA, Sept 18 (Reuters) - Colombia’s Banco de Occidente bank on Wednesday issued 400 billion pesos ($118.3 million) in local bonds, after receiving interest for more than three times that amount.

The bank issued 3-year paper with yields of inflation plus 1.75%, 5-year paper with a yield of 5.83% and 10-year paper with a yield of inflation plus 2.63%, the stock exchange said in a statement.

The bonds are part of a global tranche of 10 trillion pesos, of which the bank, a subsidiary of Grupo Aval, has already issued 5.6 trillion pesos.

$1 = 3,380.92 Colombian pesos Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb; Editing by Cynthia Osterman

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