Colombia’s EPM gives tender results for COP 1.25 trillion 8 3/8% notes

Chicago, July 11 – Empresas Publicas de Medellin ESP announced the expiration and results of its offer to purchase for cash any and all of its outstanding COP 1.25 trillion of outstanding 8 3/8% notes due 2021, according to a news release.

As of the 8 a.m. ET expiration time on July 11, noteholders had validly tendered, and not withdrawn from the offer, a total of COP 1,119,178,000,000, or 89.53% principal amount of notes.

All the tenders are accepted and, as previously reported, noteholders will receive COP 1,040 for each COP 1,000 principal amount of notes. The issuer will also pay accrued interest to but excluding the settlement date.

The consideration will be paid in U.S. dollars and be converted at COP 3,212.91 per $1.00, the market rate at the end of July 10.

Previously reported, the guaranteed delivery date is expected to be 5 p.m. ET on July 13.

Settlement is expected to occur on July 18.

As a result of the tender offer, COP 130,822,000,000 principal amount of notes is expected to remain outstanding.

Global Bondholder Services Corp. (212 430 3774, 866 924 2200 or contact@gbsc-usa.com) is the tender and information agent.

HSBC Securities (USA) Inc. (866 HSBC 4LM, 212 525 5552 or +44 20 7992 6237), J.P. Morgan Securities LLC (866 846 2874 or 212 834 7279) and Scotia Capital (USA) Inc. (800 372 3930 or 212 225 5559 are the dealer managers.

Proceeds will be used for general corporate purposes.

The issuer is a Medellin, Colombia-based public services company.

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