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Published on 7/13/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Bancolombia plans to issue $636 million subordinated notes due 2020

By Christine Van Dusen

Atlanta, July 13 - Bancolombia SA plans to issue as much as $636 million in subordinated notes due 2020 (//BB+), according to a market source and a 424B2 filing with the Securities and Exchange Commission.

Bank of America Merrill Lynch and JPMorgan are the bookrunners for the deal.

Proceeds will be used to strengthen capital structure, for regulatory compliance and for general corporate purposes.

Bancolombia is a lender based in Medellin, Colombia.


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