MEDELLIN, Colombia, June 17,
2024 /PRNewswire/ -- Bancolombia S.A. (the "Bank")
announces that today it priced the public offering of US$800,000,000 in aggregate principal amount of
its subordinated notes due December 24,
2034 (the "Notes Offering").
The notes have a 10-year and six months maturity, are subject to
optional redemption following the fifth year anniversary of the
issuance and a coupon of 8.625%, payable semi-annually on
June 24 and December 24 of each year, commencing on
December 24, 2024. The Notes Offering
is expected to settle on June 24,
2024, subject to customary closing conditions.
The Bank will use part of the proceeds from the Notes Offering
to purchase the Bank's 6.909% Subordinated Notes due 2027 pursuant
to the liability management transaction announced to the market on
June 3, 2024. The Bank will use any
remaining proceeds for general corporate purposes.
BofA Securities, Inc., Citigroup Global Markets Inc., and J.P.
Morgan Securities LLC are acting as the joint book-running managers
for the Notes Offering with J.P. Morgan Securities LLC acting as
global coordinator and Valores Banistmo S.A. is acting as
co-manager for the Notes Offering.
The Notes are being offered pursuant to an effective shelf
registration statement. The Bank has filed a preliminary prospectus
supplement with the SEC for the Notes Offering. Prospective
investors should read the prospectus in the registration statement,
the preliminary prospectus supplement and other documents that the
Bank has filed with the SEC for more complete information about the
Bank and the Notes Offering. Copies of the preliminary prospectus
supplement and the accompanying prospectus, and, when available,
the final prospectus supplement, relating to the Notes Offering may
be obtained by visiting EDGAR on the SEC's website at www.sec.gov
or by contacting BofA Securities, Inc. at 1-888-292-0070, Citigroup
Global Markets Inc. at 1-800-558-3745, or J.P. Morgan Securities
LLC at 1-866-846-2874.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sales of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. In particular, no assurance can be given that the offering to
which this press release relates will be completed and that the
proceeds of the offering will be used for the stated intended
purpose. These forward-looking statements reflect the Bank's
current views with respect to future events and are based on
assumptions and subject to risks and uncertainties. Forward-looking
statements speak only as of the date they are made and the Bank
assumes no duty, and does not undertake to update forward-looking
statements.
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SOURCE Bancolombia S.A.