Colombia adjusts acceptance amount in tender offer for two bonds

By Mary-Katherine Stinson

Lexington, Ky., Feb. 2 – Colombia released the final results of its one-day tender offer for its outstanding $1,185,133,000 4% global bonds due 2024 (Cusip: 195325BQ7) and $781.828 million 8 1/8% global bonds due 2024 (Cusip: 195325BD6) and adjusted the acceptance amounts, according to a press release on Thursday.

In each case, Colombia reduced the total principal amount of reinvestment tenders and simple tenders, reduced the total amount accepted and reduced the maximum purchase amount for both bonds.

Colombia accepted the tendered notes, detailed as the following:

• $235.901 million reinvestment tenders and $158.408 million simple tenders were accepted for the $1,185,133,000 outstanding 4% global bonds due 2024 (Cusip: 195325BQ7); and

• $102.464 million reinvestment tenders and $20.191 million simple tenders were accepted for the $781.828 million outstanding 8 1/8% global bonds due 2024 (Cusip: 195325BD6).

The maximum purchase amount was set at $391,548,837 for the 4% global bonds due 2024 and at $127,683,855 for the 8 1/8% global bonds due 2024.

As previously reported, the tender offer was related to an offering of new notes. Existing noteholders were able to tender their old notes for new notes, as reinvestment tenders.

The tender period ran from 8:30 a.m. ET on Jan. 24 and expired at 1 p.m. ET on the same day.

Holders also received any accrued interest to but excluding the settlement date.

Settlement occurred on Jan. 30.

Holders were not able to submit tenders through Euroclear Bank SA/NV, Clearstream Banking, SA or the Depository Trust Co. system.

J.P. Morgan Securities LLC, as billing and delivering bank for the tender offer, consolidated all tender orders and accept bonds for purchase on behalf of Colombia.

The dealer managers are BBVA Securities Inc. (attn.: liability management, 212 728-2446 or 800 422-8692), Itau BBA USA Securities, Inc. (attn.: debt capital markets; 212 710-6749 or 888 770-4828) and J.P. Morgan Securities LLC (attn.: Latin America debt capital markets; 212 834-7279 or 866 846-2874).

D.F. King & Co., Inc., (866 342-4884) is the information agent.

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