April 29, 2016 / 5:56 PM / in 2 years

Banco de Bogota plans subordinated bond offering

NEW YORK, April 29 (IFR) - Colombia’s Banco de Bogota has hired banks to arrange investor meetings ahead of a potential subordinated bond sale, a source with knowledge of the situation told IFR on Friday.

The bank has hired Credit Suisse, HSBC and JP Morgan to arrange meetings in London, New York, Los Angeles and Boston between May 3 and May 6.

The potential offering, which is expected to be denominated in US dollars, will be of benchmark size and eligible for Tier 2 treatment under Colombian regulations.

Its structure would resemble that of the bank’s existing 5.375% February 2023 notes and will exclude loss-absorption provisions, the source said. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)

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