Bancolombia to redeem all $520 million notes due 2016 on Sept. 10

By Marisa Wong

Madison, Wis., Aug. 11 – Bancolombia SA said it will redeem in full its outstanding senior notes due 2016 on Sept. 10.

The total amount of issued and outstanding senior notes is $520 million, according to a bank announcement on Monday.

The notes will be redeemed at a redemption price equal to the greater of par and the sum of the present values of each remaining scheduled payment of principal and interest discounted to the redemption date on a semiannual basis at the Treasury rate plus 35 basis points.

Holders will also received accrued interest to the redemption date.

The exact redemption price will be calculated and disclosed to noteholders three business days before the redemption date.

The bank is based in Medellin, Colombia.

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