Colombia offers dollar-denominated bonds in tranches due 2035, 2053

By Marisa Wong

Los Angeles, Nov. 7 – The Republic of Colombia plans to price dollar-denominated fixed-rate global bonds due 2035 and 2053, according to 424B3 filings with the Securities and Exchange Commission.

The notes will have an optional make-whole call until some months prior to maturity, and then they will be callable at par. The par call date is three months prior to maturity for the 2035 bonds and six months prior to maturity for the 2053 bonds.

BBVA Securities Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are the joint bookrunners.

The Bank of New York Mellon is the trustee.

The head of the legal affairs group of the General Directorate of Public Credit and National Treasury of the Ministry of Finance and Public Credit of the Republic of Colombia will handle matters of Colombian law, and Arnold & Porter Kaye Scholer LLP will act as U.S. counsel to Colombia.

For the underwriters, Sullivan & Cromwell LLP will act as U.S. counsel, and Brigard & Urrutia Abogados SAS will act as Colombian counsel.

The republic plans to use proceeds for general budgetary purposes and intends to allocate an amount equal to the net proceeds to eligible social expenditures under its green, social and sustainable bond framework.

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