May 15, 2007
Bancolombia has mandated JPMorgan and UBS for a sale of $400m in Tier II no
Bancolombia has mandated JPMorgan and UBS for a sale of $400m in Tier II notes, to be priced next week. The proceeds of the hybrid offering, rated Baa3, will be used to purchase a portfolio of loans from one of its subsidiaries in Panama. Separately, Bancolombia recently received approval from shareholders of Banagrícola, in El Salvador, to acquire 89% of the outstanding shares for $791m.