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Bancolombia extends early participation deadline of exchange offer
By Angela McDaniels
Tacoma, Wash., Sept. 24 - Bancolombia SA amended the private exchange offer for its 6.875% subordinated notes due 2017 so that all eligible holders who tender will receive the early participation consideration, according to a company news release.
The offer began on Sept. 11. The bank is offering new 5.125% subordinated notes due 2022 in exchange for the 6.875% notes.
Holders who exchange will receive $1,135 principal amount of new notes per $1,000 principal amount of old notes tendered, which includes the early participation consideration of $30.00 principal amount of new notes.
Holders who tendered by Sept. 21 will receive payment on the early settlement date, Sept. 25.
The expiration date remains 11:59 p.m. ET on Oct. 5. The withdrawal deadline was 5 p.m. ET on Sept. 21.
As of Sept. 21, holders had tendered $188,283,000 principal amount, or 47%, of the outstanding notes.
Global Bondholder Services Corp. is the exchange agent.
Bancolombia is a lender based in Medellin, Colombia.
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