Banco de Bogota to sell COP1.5 trillion in local bonds

Banco de Bogota plans to sell up to COP1.5 trillion (US$759 million) in local bonds to fund its lending business.

A bank spokesman said that the sale reflected its expectations of continued low interest rates and ample liquidity, which were the conditions for much of 2009.

The bank is owned by Colombian billionaire Luis Carlos Sarmiento.

Sale of the bonds will begin in February, and the bank does not plan to sell them on the international market.

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