Colombia’s Banco GNB Sudameris takes in $79.8 million tenders under offer for 2022 notes

By Wendy Van Sickle

Columbus, Ohio, April 19 – Banco GNB Sudameris SA said it took in tenders of $72,795,000 notes under its tender offer for any and all of its $250 million outstanding 7˝% subordinated notes due 2022 (Cusips: 059593AA1, P1265VAA0), according to a notice.

The amount of notes tendered represents 29.12% of the outstanding notes.

Banco GNB offered to purchase the notes for $1,060 per $1,000 note, plus interest.

Additionally, if withholding tax is imposed the issuer will pay the purchase price and interest in an amount equal as if there were not withholding tax. Payment is expected to be made on Wednesday.

D.F. King & Co., Inc. is the information and tender agent (800 967-7510, gnb@dfking.com).

Dealer managers are Credit Suisse Securities (USA) LLC (212 538-2147, 800 820-1653) and Goldman Sachs & Co. LLC (212 357-1452, 800 828-3182, GS-LM-NYC@gs.com).

The offer expires at 5 p.m. ET on April 16.

Banco GNB is a financial institution specializing in personal, commercial and financial banking based in Bogota, Colombia.

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