Shareholders of the Colombian unit of Spanish bank Banco Bilbao Vizcaya Argentaria Colombia S.A. (BBVA, BBVA.MC) have approved a plan to sell up to $500 million worth of dollar bonds in international markets.
The bank, in a statement sent to regulators late tuesday, also said shareholders agreed to increase the duration and amount of peso bonds it issues in the local market.
The statement didn't indicate when the dollar bond sales might take place.
BBVA is the fourth-largest bank in Colombia, with around 12% of the market and around $12 billion in assets.
The bank's president, Oscar Cabrera, said in December it planned to invest 220 billion pesos ($125 million) in 2.012, focusing on infrastructure technology and security.
Cabrera said the spending plan is more than double what the bank spent in Colombia in 2.011.
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