Codensa, the Colombian power distribution company operated by Spanish energy giant Endesa SA, will sell as much as 600 billion Colombian pesos ($299 million) in bonds in the local market, the company said in a filing to the local regulator.
Codensa will use the proceeds of those bonds to finance capital expenditures, upgrade assets and substitute outstanding debt, the company said.
The company hasn't given a date for the bond sale but said it will sell within the next three years.
Codensa distributes electricity in Bogota and neighboring towns.
Condesa follows other companies such as Banco Popular SA and privately held paper and publishing company Carvajal SA, which also announced bond sales recently.
(Inti Landauro, Dow Jones)
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