December 22, 2010
Banco de Bogota has taken out a $1bn 1-year bridge loan to finance the acqu
Banco de Bogota has taken out a $1bn 1-year bridge loan to finance the acquisition of BAC, the Central American bank. According to a treasury official at Banco de Bogota, Citi, HSBC and JPMorgan are providing the financing. The treasury official adds that the loan will be refinanced in 2011, though says which instrument will be used has not yet been determined. The official adds that this will likely be Banco de Bogota’s only attempt to access the debt markets next year.