Colombia's Promigas issues $164.5 mln worth of local bonds

BOGOTA, Nov 19 (Reuters) – Colombian gas distributor Promigas on Thursday issued bonds worth 600 billion pesos ($164.5 million) to the local capital market, with proceeds earmarked for refinancing existing debt for the company and its subsidiaries, to improve its long-term maturity profile.

Promigas issued paper for terms of five and 25 years after seeing demand for 1.05 trillion pesos, the Colombian stock exchange said in a statement.

Promigas is linked to Colombian financial conglomerate Grupo Aval.

The issues represents the sixth bond placement by Promigas in the local market. Most recently it issued bonds for 500 billion pesos in 2016.

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