Banco Popular Sells 400 Billion Pesos of Securities in Colombia

Banco Popular SA (POPULA), a Colombian lender, sold 400 billion pesos ($226.5 million) of bonds in the domestic market.

The Bogota-based lender sold 48-month securities to yield 3.68 percentage points above inflation, Colombia’s stock exchange said in an e-mailed statement. The lender also sold 18- and 24-month securities to yield 1.71 and 1.81 percentage points above the IBR interbank rate, respectively, according to the statement. Banco Popular didn’t sell 36-month securities tied to the IBR rate, which were included in the offer published yesterday.

Investor demand for the securities totaled 718 billion pesos, according to the statement.

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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