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Bancolombia provides early tender results for 3% notes due 2025
Chicago, July 26 – Bancolombia SA announced the early results for its cash tender offer for its $950 million outstanding 3% senior notes due 2025 (Cusip: 05968LAM4), according to a press release.
At the early deadline, noteholders had tendered $467,966,000 of their notes.
Even though the offer was initially capped at $370 million, the bank is accepting all of the tendered notes.
The bank is paying a total consideration of $963 per $1,000 note. The consideration includes a $30 early tender payment. Accrued interest will also be paid.
As the offer was oversubscribed, no tenders will be accepted for purchase after the early deadline of 5 p.m. ET on July 25.
The early deadline was also the withdrawal deadline.
Settlement is expected for Aug. 1.
The offer technically would have expired on Aug. 9.
J.P. Morgan Securities LLC is the dealer manager for the offer (866 846-2874, 212 834-7279).
Global Bondholder Services Corp. is the information and tender agent (212 430-3774, 855 654-2015, contact@gbsc-usa.com).
The lender is based in Medellin, Colombia.
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