Grupo Sura successfully wraps 5˝% senior notes solicitation

Chicago, March 19 – Colombia’s Grupo de Inversiones Suramericana SA successfully completed a consent solicitation for its 5˝% senior notes due 2026 (ISINs: US40052XAB64, USG42036AB25), according to a press release.

Holders of a majority of the $530 million outstanding notes (from an original issue size of $550 million) consented to the proposed amendments.

The company wanted to harmonize the definitions related to a change-of-control trigger with the terms in financing documents for new loan arrangements.

The changes also reflect the company’s new corporate and shareholders structure.

Further, the amendments will delete the existing definition of “continuing directors” which is no longer used in the indenture.

The proposed amendments constitute a single proposal.

The solicitation started on March 5 and ended 5 p.m. ET on March 19.

A consent fee of $3.75 per $1,000 note was being offered to holders who validly delivered their consents before the expiration time. The fee will be paid within five days of the expiration time.

BofA Securities, Inc. is the solicitation agent.

Global Bondholder Services Corp. is the information and tabulation agent (855 654-2015, contact@gbsc-usa.com).

The issuer is an investment company based in Medellin.

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