April 14, 2021 |
Colombia's Banco GNB Sudameris sold $400 million worth of 10-year non-call-five Tier 2 bonds on Tuesday, issuing new debt to fund the buyback of all $250 million in outstanding 7.5% 2022 notes, a source involved in the deal said.
GNB Sudameris priced the 2031 bonds at par to yield 7.5% after opening the deal with initial price talk in the mid- to high-7% area, the source said. Credit Suisse and Goldman Sachs were the bookrunners, he added.
Moody's gave the notes a B2 rating, while Fitch Ratings
Colombian bank sells $400 mln in 2031 notes and plans to repurchase all $250 mln in 2022 bonds