Bancolombia S.A. Announces Early Tender Results for Citigroup Global Markets Inc.'S Tender Offer to Purchase Any and All of Bancolombia's Outstanding 5.950% Senior Notes Due 2021
January 23, 2020 at 08:59 am EST
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Bancolombia S.A. announced the early tender results of the previously announced offer by Citigroup Global Markets Inc. (the "Offeror") to purchase for cash (the "Offer") any and all of the Issuer's outstanding 5.950% Senior Notes due 2021 (the "Notes"). The Offer is subject to the terms and conditions as described in the offer to purchase dated January 8, 2020 (the "Offer to Purchase"). The early tender deadline for the Offer occurred at 5:00 P.M., New York City time, on January 22, 2020 (the "Early Tender Date"). The Offeror intends to accept for purchase on the early settlement date for the Offer (the "Early Settlement Date"), which is expected to be January 24, 2020, the aggregate amount of Notes that were validly tendered and not validly withdrawn prior to the Early Tender Date, if the financing and other conditions described below are satisfied or waived. Holders who have not tendered their Notes as of the Early Tender Date are eligible to tender their Notes at or prior to 11:59 P.M., New York City time, on February 5, 2020 (the "Expiration Date"), unless the Offer is extended or earlier terminated by the Offeror in its sole discretion. Holders that validly tendered prior to the Early Tender Date, and whose Notes are accepted for purchase, will be entitled to receive the total consideration set forth in the table above, which includes the early tender payment. In addition, holders whose Notes are purchased in the Offer will be entitled to receive accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but not including, the applicable settlement date. The Issuer intends to redeem all or a portion of the Notes that remain outstanding following the completion of the Offer. The Offer to Purchase does not constitute a notice of redemption and no redemption will be binding on the Issuer until such time as a notice of redemption is delivered in accordance with the indenture dated as of June 3, 2011, between the Issuer and The Bank of New York Mellon, as trustee.
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.
Bancolombia S.A. Announces Early Tender Results for Citigroup Global Markets Inc.'S Tender Offer to Purchase Any and All of Bancolombia's Outstanding 5.950% Senior Notes Due 2021