Release 04 – Gómez-Pinzón advised Credivalores in bond issuance
- This offering is a further issuance of the 2017 USD$250.000.000 bond offering pursuant to Rule 144A / Regulation S.
- Gómez-Pinzón Abogados is a leader in advising Capital Markets transactions.
Bogotá, February 12, 2018. Gómez Pinzón Abogados has advised Credivalores- Crediservicios S.A.S during the placement of USD$75,000,000 senior notes in the international capital markets, with a coupon of 9.75% payable in 4 years, pursuant to Regulation S.
BCP Securities, LLC acted as Lead Manager and Book-Runner, and The Bank of New York Mellon acted as paying agent, administrator, and depositary.
This offering successfully concludes the first re-opening of the company’s USD$250,000,000 issuance, which closed on July 27, 2017, for a total amount of USD$325,000,000.
Credivalores is a leading non-bank financial institution in Colombia focused on providing under-banked segments of the population access to consumer credit and micro-insurance through loan products designed to minimize loan losses. It mainly serves consumers in social segments 2, 3 and 4 of the Colombian population.
The transaction was carried out according to Regulation S of the United States of America, which allows issuers to offer and place their securities outside the United States of America without registering them before the Securities and Exchange Commission (SEC).
“With this placement, we have completed the most important transaction of this type that has been carried out in the country, given that it is a credit institution that normally would not achieve these financings. US $325 million is a significant figure since there has not been a prior Senior Bond issuance for this amount”, said Andrés Hoyos, Partner and Director in Gómez-Pinzón of the Corporate, Mergers & Acquisitions practice group, who led the transaction.
Diana Silva, senior associate of the Corporate / Mergers & Acquisitions area; Cristina Silva and Álvaro Rueda, associates in the Firm also participated in the process.