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He Bancolombia GroupThrough its Investment Banking and Securities teams, it led the first private debt swap operation carried out in the Colombian capital market.
It was a transaction in which Grupo Argos issued bonds for $ 136.5 billion, at a rate of IPC + 2.65% and maturing in 2027.
In return, investors will deliver the company’s bonds that they have today and expire in 2024, whose coupon rate is IPC + 3.95% as a form of payment.
Related: Grupo Argos placed bonds for $ 136.5 billion on the Colombian Stock Exchange
In this way, Bancolombia said, Grupo Argos managed to substitute short-term financial liabilities and improve its debt profile.
Bancolombia detailed in a statement that “the operation represents a milestone for the deepening of the Colombian capital market, because although the exchange is a widely used operation in public debt, this is the first time that it has been carried out in corporate debt, which new possibilities open up for issuers and investors ”.
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