Colombian power generation company, Emgesa, will issue about $191 million of bonds in the local market, The Wall Street Journal reports. It is planning to sell $119.8 million of bonds, but may increase the amount to $191 according to the demand.

Endesa-controlled Emgesa will use the first $119.8 million to pay existing debt, due in October, and the rest as working capital. The local unit of Citigroup will handle the bond sale, along with local brokerages, Corredores Asociados and Correval.

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