Bancolombia sets roadshow for up to $1 billion of 10-year subordinated tier 2 notes

By Rebecca Melvin

New York, Sept. 26 – Bancolombia SA is set to market an offering of up to $1 billion of 10-year subordinated tier 2 notes through Oct. 10, according to a market source.

Fixed income investor meetings are scheduled for Bogota, Los Angeles, Boston, Zurich, Geneva, Lima and Santiago.

Proceeds from the registered offering will be used to acquire a portion of the bank’s 6 1/8% notes due 2020 and 5 1/8% notes due 2022, issued on July 26, 2010 and Sept. 4, 2012, respectively. Any remaining proceeds to be used for general corporate purposes.

BofA Merrill Lynch, Citigroup Global Markets Inc., and UBS Securities LLC are joint bookrunning managers, and Valores Banistmo is acting as co-manager.

Application will be made to list the notes on the New York Stock Exchange.

The issuer is based in Medellin, Colombia.

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