Terpel Issues $165m Bonds in Colombia

Chilean fuel distributor Terpel issued 400 billion pesos ($165.5 million) in ordinary bonds on the Colombian market on Wednesday, which it will use to substitute existing debt.

 

The sale by Terpel, a subsidiary of Empresas Copec, was more than doubly over-subscribed, the country's Bolsa de Valores stock exchange which oversaw the sale, said in a statement.

 

The company, which has filling stations across Colombia, issued a seven-year bond set to yield 3.04 percent on top of the inflation rate and 15-year paper which will yield 4.06 percent over inflation.