GNB Sudameris resumes bond sale for buyback

GNB Sudameris resumes bond sale for buyback

Corporate & Sovereign Strategy Credit Ratings Bonds Debt Fixed Income Colombia

Colombia's Banco GNB Sudameris has hired Credit Suisse and Goldman Sachs for a possible bond sale to fund the buyback of 2022 bonds, picking up a deal that it called off in October last year, according to a source involved in the plans. The banks started calling investors on Monday, offering subordinated dollar-denominated Tier 2 bonds to fund the buyback of $250 million worth of 7.5% 2022 notes, the source said. Moody's assigned a B2(hyb) rating to the proposed notes on Monday, two notches belo

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