BBVA to carry out US$85mn bond issue
Bnamericas Published: Friday, March 18, 2005
The Colombian subsidiary of the Spanish financial group BBVA (NYSE: BBV) will carry out a 202bn-peso (US$85.3mn) bond issue on the Colombian market, the securities regulator reported. The purpose of this issue is to cover working capital needs or acquisitions for the entity's portfolio. At a shareholders' meeting on Thursday, it was decided the board will set out the placement rules, with a deadline of 12 months for issuing the bonds. BBVA reported 20.3bn pesos in profits in the first two months of this year, up 15.6% compared to same-period 2004.
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