Colombia buys $1 billion 7 3/8% notes due 2019 in one-day tender

By Susanna Moon

Chicago, Oct. 3 – The Republic of Colombia said it will accept tenders for $1 billion of its $2 billion outstanding 7 3/8% notes due 2019 in the one-day offer held Wednesday.

The issuer received preferred tenders for $304,129,000 and non-preferred tenders for $767,809,000, according to an announcement.

Colombia accepted for purchase all of the preferred tenders and $695,871,000 of the non-preferred tenders.

As announced Oct. 3, the purchase price will be $1,021.25 for each $1,000 principal amount plus accrued interest.

The issuer was tendering for the notes due 2019 with the purchase amount to be set later, and the tender offer conditioned on pricing of an issue of new bonds.

Colombia said it priced $1.5 billion principal amount of its 4½% global bonds due 2029, which is expected to close Oct. 12.

The amount of new bonds includes about $312,578,000 intended to fund the purchase of preferred tenders in the concurrent tender offer, the company noted.

The tender offer ended at noon ET for non-preferred tenders and at 3 p.m. ET for preferred tenders.

Settlement has been set for Oct. 10.

The information agent is D.F. King & Co., Inc. (877 896-3199 or dfking.com/Colombia). The dealer managers are Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745), Credit Suisse Securities (USA) LLC (212 538-2147 or 800 820-1653) and J.P. Morgan Securities LLC (212 834-7279 or 866 846-2874).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.