Promigas approves cross-border bond debut

Promigas approves cross-border bond debut

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Energy Gas Colombia US

Shareholders in Colombia's Promigas have approved a cross-border debt sale for as much as $400m to diversify the company's fundraising sources, according to a securities filing. Promigas and its Peruvian affiliate, Gases del Pacífico, will issue the bonds under Rule 144A/Reg S in the US market and use the proceeds to pay off outstanding debt, the company said. Gases del Pacífico does business under the name Quavii. Promigas transports 52% of natural gas in Colombia through 3,000km of pipelines.

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