Bavaria is planning to issue bonds in Columbia and Peru to put toward debt management, according to press reports. Reuters, citing a source close to the situation, said that the Columbian brewer is set to issue US$110m worth of bonds in Columbia, and $50m in bonds in Peru in June and July.

The Colombian bonds would carry maturities of between seven and 12 years, and could be linked to Colombia's benchmark DTF interest rate, the source told Reuters. The DTF is set weekly according to a Central Bank survey of commercial bank interest rates.

The source also told Reuters that Bavaria is planning to issue $50m in bonds in Peru during July, but declined to give further details.

The brewer has been aggressively extending its reach in Latin America, and has spent $1.1 billion on expansion by buying brewers in Peru, Ecuador and Panama to double its output over the past three years.

The Columbian conglomerate announced last month that net income for Q1 hit COP22.2 billion (US$8.5m), up from COP5.9 billion in the corresponding quarter last year.