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UPDATE 1-Colombia's Corficolombiana issues $145 mln in local bonds

(Recasts with results of Corficolombiana issue)

BOGOTA, Aug 27 (Reuters) - Colombian holding company Corficolombiana issued $145.6 million in local bonds on Tuesday, in an effort to raise financing, as holding Grupo Argos prepared a $131 million issue for Wednesday.

Corporacion Financiera Colombiana SA, known as Corficolombiana, issued its 500 billion pesos worth of paper at 3 years with a yield of inflation plus 2.16%, at 10 years with a yield of inflation plus 3.07% and at 20 years with a yield of inflation plus 3.90%, the company said in a statement.

The bonds will finance "economic activity," the Casa de Bolsa brokerage, which was in charge of the sale, said in a separate statement earlier on Tuesday.

Corficolombiana is involved in the financing of various road construction projects in the Andean country.

For its part, Grupo Argos will issue 450 billion pesos ($131 million) of 3-, 6- and 15-year paper, the company said in a statement to Colombia's financial regulator.

"The resources from the issue of the ordinary bonds will be 100% destined for the substitution of debt," the statement said.

The bonds are part of Argos' global tranche of 2.35 trillion pesos, of which 1.35 trillion has already been issued. ($1 = 3,432.85 Colombian pesos) (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Jonathan Oatis and David Gregorio)