Pacific Rubiales to register on Bolsa this time next month

Pacific Rubiales has set a date on its entry onto the Colombian Bolsa de Valores or rather a period in which it will occur, between September 15 and September 30, 2009. However, the firm is only set to register for now and not emit shares.

A partner of Ecopetrol, Pacific Rubiales had been expected to register last month but has been delayed by the Ministerio de Hacienda and the Bolsa itself, working together on new regulations for foreign values. The firm announced its intention back in February.

Publication: SABI - Business News
Provider: South American Business Information
September 1, 2009

Avianca issues bigger bond than expected

Avianca of Colombia has issued bonds to the tune of Peso$500bil via the Bolsa de Valores de Colombia (BVC), having only planned initially to emit Peso$300bil. The airline could indeed have sold bonds for a total of Peso$692.48bil such was investor interest.

The president of Avianca, Fabio Villegas has said that the operation will give the airline new impetus to continue with the overhaul process it has embarked upon. The issue was split into three tranches, one running for five, another for seven and the third for ten years at 5.5%, 6.3% and 6.69% respectively. Tranche one came to Peso$75bil; tranche two, to Peso$158.63bil; and tranche three, to Peso$266.37bil. The issue received a rating of AA+ from Fitch Ratings, was structured by ImasI and was placed by Interbolsa.

Publication: SABI - Business News
Provider: South American Business Information
September 1, 2009