IIC Makes Its Debut On The Colombian Capital Market With A Public Bond Offering In The Amount Of 150 Billion Colombian Pesos
12/14/2005THE PROCEEDS WILL BE USED TO PROVIDE FUNDING TO COLOMBIAN LEASING COMPANIES
Bogotá, Colombia - On December 14, 2005, the Inter-American Investment Corporation (IIC) successfully placed its first local-currency bond issue in the amount of 150 billion Colombian pesos (approximately US$66 million).
The proceeds will be used in their entirety to provide financing for small and medium-size companies in Colombia through leasing operations. Corporación Financiera del Valle was the placement and structuring agent. This is the first time that a multilateral organization operating in Latin America simultaneously takes in and lends domestic savings. The proceeds were lent to five Colombian leasing companies that expect to provide financing to more than 1,000 small and medium-size companies. The bonds were offered to investors by public auction on December 14, 2005. Demand exceeded the amount offered by 4.7 times.
The Inter-American Investment Corporation is a multilateral financial institution that is part of the Inter-American Development Bank Group. It provides financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. The IIC's mission is to promote the economic development of its regional member countries by stimulating the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size.
Contact: Jacques Rogozinski
Telephone: (202) 623-3901