Findeter raises US$180mn through Dutch auction

Wednesday, October 26, 2011

Colombian state development agency Findeter has sold 339bn pesos (US$180mn) in bonds through a Dutch auction held at the Colombian stock exchange, BVC.

The initial offer of 250bn pesos was 1.73 times oversubscribed by investors, Findeter said in a press release.

Proceeds from the issuance will be used to finance infrastructure projects across the country under the national development plan (PND).

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Funds will also go towards projects associated with the recently ratified free trade agreement between Colombia and the US.