Bancolombia S.A. Announces the Redemption of the 3.000% Senior Notes due 2025 and of the 4.625% Subordinated Notes due 2029, Both Issued by Bancolombia S.A.

MEDELLIN, Colombia, Oct. 24, 2024 /PRNewswire/ -- Today, Bancolombia S.A. (the "Bank") announced that it will redeem in full all of its outstanding (i) 3.000% Senior Notes due 2025 (CUSIP Number 05968LAM4, ISIN Number US05968LAM46) (the "2025 Notes") on November 13, 2024 ("2025 Notes Redemption Date") and (ii) 4.625% Subordinated Notes due 2029 (CUSIP Number 05968LAL6, ISIN Number US05968LAL62) (the "2029 Notes" and, together with 2025 Notes, the "Notes") on December 18, 2024 ("2029 Notes Redemption Date").

The Bank will redeem the 2025 Notes at a make-whole¹ redemption price equal to the greater of (i) the treasury rate² plus 25 basis points plus accrued and unpaid interest to the 2025 Notes Redemption Date and (ii) 100% of the principal amount of such 2025 Notes plus accrued and unpaid interest to the 2025 Notes Redemption Date. 

The Bank will redeem the 2029 Notes at a redemption price equal to 100% of the outstanding aggregate principal amount of the 2029 Notes, plus accrued and unpaid interest to the 2029 Notes Redemption Date.

The Bank has instructed The Bank of New York Mellon, located at 240 Greenwich Street, Floor 7E, New York, NY, Zip Code 10286, the trustee for the Notes, to distribute a notice of redemption to all registered holders of the Notes. The Notes must be surrendered to The Bank of New York Mellon, to collect the redemption price pursuant to the notice of redemption.

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 contains 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 over 32 million customers.

¹ Mechanism, included in the 2025 Notes prospectus, that allows the redemption of the 2025 Notes.

² 5 year U.S. Treasury Security.

SOURCE Bancolombia S.A.