January 17, 2001 (BNamericas.com) - Colombia"s state-run bank Bancafe will issue bonds worth US$89.2mn between January 20 and 30, to strengthen its balance sheet and increase liquidity, Bancafe president Pedro Nel Ospina was quoted as saying in El Pais (Colombia). Ospina said the bond issue will have a triple-A rating from rating agency Duff & Phelps and be issued in three series, with terms ranging from 18-months to three years. According to Ospina, the triple-A rating is due to three factors: the injection of US$388mn between 1999 and 2000; administrative restructuring in 2000 which cut staff to 4,350; and the structure of the bond issue, which is backed up by Bancafe"s equity. Colombia"s Financial Institution Guarantee Fund (Fogafin) owns 99.9% of Bancafe. Business News Americas (BNamericas.com)