Grupo Inversiones Suramericana S.A. Shares Early Tender Results
Grupo de Inversiones Suramericana S.A. is excited to announce the early tender results as well as the early settlement date related to its tender offer to acquire its 5.500% Notes due 2026. This offer is for a maximum aggregate principal amount of U.S. $230 million.
Tender Offer Highlights
The company reported that as of the deadline, U.S. $291,799,000 worth of the Notes were validly tendered and not withdrawn. An attractive Total Consideration of U.S. $1,000 per U.S. $1,000 principal amount has been set, including an early tender payment of U.S. $50. Holders whose Notes are accepted will also accrue interest from the last payment date up until the early settlement date.
Amendments to the Offer
In line with enhancing the tender offer, Grupo Inversiones Suramericana S.A. has amended the Maximum Amount to U.S. $230 million, although the other aspects of the offer will remain unchanged. Participants who have already tendered their Notes do not need to take further action due to this amendment.
Important Dates
The Tender Offer is set to conclude at 5:00 p.m. New York City time on February 7, 2025. The early tender deadline—whereupon validly submitted Notes cannot be withdrawn—has already passed. Participating holders may still submit their Notes until the expiry to receive the Total Consideration.
Conditions of the Offer
The acceptance and payment for any tendered Notes hinge upon the satisfaction of customary conditions outlined in the Offer to Purchase. The allocation will only extend to the maximum amount with no additional purchases exceeding this cap.
Contact Information for Participants
Citigroup Global Markets Inc. and Itau BBA USA Securities, Inc. serve as the dealer managers for the tender offer and are available for inquiries. Those interested can reach Citigroup’s Liability Management Group at +1 (212) 723 6106 or toll-free at +1 (800) 558-3745.
About the Company
Grupo de Inversiones Suramericana S.A. is the parent entity of a range of leading companies primarily in the financial services industry across Latin America. The group encompasses mandatory pension funds, voluntary savings, insurance, and holds a significant stake in Bancolombia S.A., which offers universal banking services.
Frequently Asked Questions
What is the total amount being offered in the tender?
The tender offer is for a maximum of U.S. $230 million in aggregate principal amount of the 5.500% Notes due 2026.
What are the early tender results?
As of the early tender deadline, U.S. $291,799,000 of the Notes had been validly tendered and not withdrawn.
What is the early settlement date?
The early settlement date is expected to occur on January 30, 2025.
Are previously tendered Notes required to be re-tendered?
No, holders that have already tendered their Notes do not need to re-tender them due to the amendment of the tender offer.
Who should I contact for questions?
For any inquiries regarding the tender offer, you may contact Citigroup Global Markets or Itau BBA USA Securities for assistance.
