The Colombian unit of Spain’s Banco Santander SA plans to sell local bonds worth up to 140 billion Colombian pesos ($78 million) in bonds with a maturity as long as seven years, the bank said in a filing to the local regulator.
The bond sale still needs approval from the financial regulator, the bank said. It didn’t give details on what it will do with the proceeds of the bonds.
Santander is the eleventh largest bank in Colombia in terms of assets, with assets worth COP6.25 trillion and a net profit of COP65 billion over the first seven months of this year. (Inti Landauro / Dow Jones Newswires)