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Bancolombia S.A. Announces Expiration and Final Tender Results for Citigroup Global Markets Inc.’s Tender Offer for Bancolombia’s 6.125% Subordinated Notes Due 2020 and 5.125% Subordinated Notes Due 2022

December 24, 2019 GMT

MEDELLIN, Colombia, Dec. 24, 2019 /PRNewswire/ -- Today, Bancolombia S.A. (the “Issuer”) announced the expiration and final tender results of the offer by Citigroup Global Markets Inc. (the “Offeror”) to purchase for cash (the “Offer”) up to a maximum amount of U.S.$750,000,000 of the Issuer’s outstanding 6.125% Subordinated Notes due 2020 (the “2020 Notes”) and 5.125% Subordinated Notes due 2022 (the “2022 Notes” and together with the 2020 Notes, the “Notes”). The terms and conditions of the Offer are set forth in the offer to purchase dated November 25, 2019 (the “Offer to Purchase”).

On December 13, 2019, the Offeror purchased U.S.$485,992,000 aggregate principal amount of the Notes that were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on December 9, 2019 (the “Early Tender Date”). The Offeror has accepted for purchase an additional U.S.$47,000 in aggregate principal amount of 2020 Notes and U.S.$4,460,000 in aggregate principal amount of 2022 Notes that were validly tendered and not validly withdrawn following the Early Tender Date and on or prior to 11:59 p.m., New York City time, on December 23, 2019 (the “Expiration Date”). Settlement for these additional Notes is expected to be December 26, 2019 (the “Final Settlement Date”). Holders that validly tendered after the Early Tender Date and prior to the Expiration Date, and whose Notes are accepted for purchase, will be entitled to receive total consideration of (i) U.S.$999.25 for each U.S.$1,000 principal amount of the 2020 Notes, and (ii) U.S.$1,035.00 for each U.S.$1,000 principal amount of the 2022 Notes, plus accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but not including, the Final Settlement Date.

Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as the dealer managers for the Offer. Persons with questions regarding the Offer should contact Citigroup Global Markets Inc. at (800) 558-3745 (toll-free) or (212) 723-6106 (collect), or J.P. Morgan Securities LLC at (866) 846-2874 (toll-free) or (212) 834-7279 (collect).

This press release is for informational purposes only and is not a recommendation, an offer to purchase, or a solicitation of an offer to sell with respect to any securities.

Forward-Looking Statements

This release and the Offer to Purchase contain statements which may constitute “forward-looking statements.” These forward-looking statements are not based on historical facts, but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Words such as “anticipate,” “believe,” “estimate,” “approximate,” “expect,” “may,” “intend,” “plan,” “predict,” “target,” “forecast,” “guideline,” “should,” “project” and similar words and expressions are intended to identify forward-looking statements. It is possible that our actual results may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update publicly or revise any forward-looking statements after the date on which they are made in light of new information, future events and other factors.

About the Issuer

Bancolombia S.A. is a full-service financial institution that offers a wide range of banking products and services to a diversified individual and corporate customer base of nearly 15 million customers.

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SOURCE Bancolombia S.A.