Dec. 3 (Bloomberg) -- Riopaila Castilla SA, a Colombian sugar producer, said it abandoned plans to sell as much as 100 billion pesos ($50.2 million) of bonds in the local market and borrowed from banks instead.
Riopaila took a 10-year loan from Bancolombia SA for 31.4 billion pesos and an eight-year loan with Banco de Bogota SA for 45 billion pesos, the company said in a filing on the financial regulator’s Web site.
To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net
Last Updated: December 3, 2009 15:54 EST
Source: bloomberg.com/
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