In its first debt offering since 2020, Bancolombia completed an $800 million offering of subordinated notes due 2034. The notes are listed on the New York Stock Exchange.
Concurrently with the offering, Bancolombia announced a cash tender to purchase its 3% senior notes due 2025 and up to $400 million of its 6.909% notes due 2027.
A portion of the proceeds of the subordinated notes offering were used to fund the cash tender offer for the 6.909% subordinated notes due 2027. The remaining proceeds will be used by Bancolombia for general corporate purposes.
The S&C team representing Bancolombia included Sergio Galvis, Patrick Brown, Renata Mascarenhas, Alexander Gregorio and Emily St. Marie. Eric Wang, Michael Orchowski and Tristan Hood advised on tax matters.