MEDELLÍN, Colombia, July 2, 2024
/PRNewswire/ -- Today, Bancolombia S.A. (the "Issuer") announced
the expiration and final tender results of its previously announced
offers by the Issuer to purchase for cash any and all of the
Issuer's outstanding 3.000% Senior Notes due 2025 (the "2025
Notes") (the "2025 Offer") and up to U.S. $400,000,000 of the Issuer's outstanding 6.909%
Subordinated Notes due 2027 (the "2027 Notes" and collectively with
the 2025 Notes the "Notes") (the "2027 Offer" and together with the
2025 Offer, the "Offers"). The Offers are subject to the terms and
conditions as described in the offer to purchase dated June 3, 2024 (the "Offer to Purchase").
On June 24, 2024, the Issuer
purchased U.S.$267,421,000 aggregate
principal amount of the 2025 Notes and U.S.$283,632,000 aggregate principal amount of the
2027 Notes that were validly tendered and not validly withdrawn as
of 5:00 p.m., New York City time, on June 14, 2024 (the "Early Tender Date"). The
Issuer has accepted for purchase an
additional U.S.$2,013,000
aggregate principal amount of the 2025 Notes and an additional
U.S.$4,661,000 aggregate principal
amount of the 2027 Notes that were validly tendered and not validly
withdrawn following the Early Tender Date and on or prior to
5:00 p.m., New York City time, on July 2, 2024 (the "Expiration Date"). The tenders
for the 2025 Notes represented approximately 55.90% of the
outstanding 2025 Notes and the tenders for the 2027 Notes
represented approximately 38.44% of the outstanding 2027 Notes.
2025 Holders that validly tendered after the Early Tender Date
and prior to the Expiration Date, and whose 2025 Notes are accepted
for purchase, will be entitled to receive total consideration of
U.S.$936.46 for each U.S.$1,000 principal amount of the 2025 Notes, plus
accrued and unpaid interest in respect of their purchased 2025
Notes from the last interest payment date to, but not including,
the Final Settlement Date.
2027 Holders that validly tendered after the Early Tender Date
and prior to the Expiration Date, and whose 2027 Notes are accepted
for purchase, will be entitled to receive total consideration of
U.S.$950.00 for each U.S.$1,000 principal amount of the 2027 Notes, plus
accrued and unpaid interest in respect of their purchased 2027
Notes from the last interest payment date to, but not including,
the Final Settlement Date.
BofA Securities, Inc., Citigroup Global Markets Inc. and J.P.
Morgan Securities LLC acted as the dealer managers for the Offers.
Persons with questions regarding the Offers should
contact BofA Securities, Inc. at (888) 292-0070 (toll-free) or
(980) 387-3907 (collect), Citigroup Global Markets Inc. at (800)
558-3745 (toll-free) or (212) 723-6106 (collect), or J.P. Morgan
Securities LLC at (866) 846-2874 (toll-free) or (212) 834-7279
(collect).
This press release is for informational purposes only and is not
a recommendation, an offer to purchase, or a solicitation of an
offer to sell with respect to any securities.
Forward-Looking Statements
This release and the Offer to Purchase contain statements which
may constitute "forward-looking statements." These forward-looking
statements are not based on historical facts, but instead represent
only our belief regarding future events, many of which, by their
nature, are inherently uncertain and outside our control. Words
such as "anticipate," "believe," "estimate," "approximate,"
"expect," "may," "intend," "plan," "predict," "target," "forecast,"
"guideline," "should," "project" and similar words and expressions
are intended to identify forward-looking statements. It is possible
that our actual results may differ, possibly materially, from the
anticipated results indicated in these forward-looking statements.
Forward-looking statements speak only as of the date they were
made, and we undertake no obligation to update publicly or revise
any forward-looking statements after the date on which they are
made in light of new information, future events and other
factors.
About the Issuer
Bancolombia S.A. is a full-service financial institution that
offers a wide range of banking products and services to a
diversified individual and corporate customer base of over 31
million customers.
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SOURCE Bancolombia S.A.