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Edatel issues US$25mn in bonds

Bnamericas Published: Tuesday, May 17, 2005

Colombian telco Edatel plans to issue bonds worth 60bn pesos (US$25.6mn) to cover the company's investment plan, local daily Portafolio reported. The bonds, maturing in 2012 with interest payments indexed to inflation, received an AA+ rating from Colombian ratings agency BRC Investor Services. The company aims to generate revenues of 236bn pesos this year by boosting basic telephony clients 14%, DSL clients 41%, and public telephony 50%, according to Edatel's CEO Andrés Restrepo Isaza. Medellín-based Edatel, which operates in the departments of Antioquia, Córdoba, Barrancabermeja, and Valledupar, installed some 8,000 basic telephone lines in 1Q05.

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