Banco de Bogotá secures nearly $500M in early bond buyback
Banco de Bogotá has released the early results of its tender offer for up to U.S.$500 million of its 6.250% Subordinated Notes due 2026. By the early deadline, bondholders submitted around 44.81% of the outstanding notes for repurchase. The bank will pay different amounts depending on when the notes were tendered.
The offer allows Banco de Bogotá to buy back notes worth up to U.S.$500 million. As of the early tender date, holders had submitted U.S.$485,019,000 in notes—just under the maximum limit. Those who tendered by this deadline will receive U.S.$1,006.25 per U.S.$1,000 of notes, plus any accrued interest, on the early settlement date of February 4, 2026.
Holders who tender after the early deadline but before the final expiry will get U.S.$956.25 per U.S.$1,000, without the early payment bonus. The offer remains open until 5:00 p.m., New York time, on February 18, 2026, unless the bank extends, terminates, or withdraws it earlier. BofA Securities, Inc. and Citigroup Global Markets Inc. are managing the process.
The Colombian central bank had held its benchmark rate at 9.25% through December 2025 before raising it to 10.25% in January 2026. This economic backdrop may have influenced bondholders' decisions to participate in the tender.
Banco de Bogotá will only accept notes up to the U.S.$500 million cap. The early response shows significant interest, with nearly half of the outstanding notes submitted. Payments to early participants will be processed on February 4, while the final deadline for the offer remains set for mid-February.
