Colombian Banco de Bogotá plans $1 billion debt issue. Funds for BAC-Credomatic acquisition from General Electric
Colombia's Banco de Bogotá plans to issue $1 billion in debt beginning in October, its president said.
Alejandro Figueroa, head of Colombia's No. 2 bank, said the debt would be sold in foreign markets with maturities between seven and 10 years.
Funds from the issue will be used to pay off debt from its $1.9 billion purchase of Central American bank BAC-Credomatic from General Electric last year, Figueroa said.