Bancolombia announces early tender results for 3% notes, ups cap

By William Gullotti

Buffalo, N.Y., July 26 – Bancolombia SA announced the early results of its tender offer to repurchase up to $370 million of its $950 million outstanding 3% senior notes due 2025 (Cusip: 05968LAM4), according to a 6-K filing with the Securities and Exchange Commission.

As previously reported, bank is offering a total consideration of $963 per $1,000 note. The total consideration includes a $30 early tender payment that will only be paid to noteholders who tender by the 5 p.m. ET early deadline on July 25.

Accrued interest will also be paid.

As of the early tender deadline, the bank received tenders totaling $467,966,000. The bank subsequently decided to increase the maximum tender amount to match the amount of tendered notes, accepting all early tendered notes for purchase without proration.

The bank will not accept any notes tendered after the early deadline.

Settlement is expected on Aug. 1.

J.P. Morgan Securities LLC is the dealer manager for the offer (866 846-2874, 212 834-7279).

Global Bondholder Services Corp. is the information and tender agent (212 430-3774, 855 654-2015, contact@gbsc-usa.com).

The lender is based in Medellin, Colombia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.