Bancolombia’s $1.2 Billion Bond Plan Adds to Peso Debt Program

Aug. 28 (Bloomberg) -- Bancolombia SA, the nation’s largest bank, said its board approved a plan to sell as much as $1.2 billion of subordinated debt abroad in addition to a peso bond program announced in May.

The dollar bond program is “independent” from a plan to sell 3 trillion pesos ($1.6 billion) of debt denominated in the local currency, the company said yesterday in an e-mailed statement.

“These are approvals to be prepared in case the company decides to issue debt down the road, but they are independent,” the company said.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net

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