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Colombia begins one-day tender offer for two series of bonds due 2024
By Marisa Wong
Los Angeles, Jan. 24 – Colombia announced it has begun an offer to purchase for cash its outstanding $1,185,133,000 4% global bonds due 2024 (Cusip: 195325BQ7) and $781,828,000 8 1/8% global bonds due 2024 (Cusip: 195325BD6), up to a maximum purchase amount.
Colombia is offering to purchase the 4% bonds at a fixed price of $993 per $1,000 principal amount and the 8 1/8% bonds at $1,041 per $1,000 principal amount.
Holders will also receive any accrued interest to but excluding the settlement date.
The tender period began around 8:30 a.m. ET on Jan. 24 and will expire at 1 p.m. ET on Jan. 24.
Colombia expects to announce on Tuesday the maximum purchase amount, the aggregate principal amount of tenders that have been accepted and whether any proration has occurred.
Settlement is scheduled to occur on Jan. 30.
During the tender period, holders may only place tender orders through the dealer managers. If a holder does not have an account with a dealer manager, tenders may be delivered through a broker, dealer, commercial bank, trust company, other financial institution or other custodian that has an account with a dealer manager.
Holders will not be able to submit tenders through Euroclear Bank SA/NV, Clearstream Banking, SA or the Depository Trust Co. system.
J.P. Morgan Securities LLC, as billing and delivering bank for the tender offer, will consolidate all tender orders and accept bonds for purchase on behalf of Colombia.
The dealer managers are BBVA Securities Inc. (attn.: liability management, 212 728-2446 or 800 422-8692), Itau BBA USA Securities, Inc. (attn.: debt capital markets; 212 710-6749 or 888 770-4828) and J.P. Morgan Securities LLC (attn.: Latin America debt capital markets; 212 834-7279 or 866 846-2874).
D.F. King & Co., Inc., (866 342-4884) is the information agent.
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