facebook
linkedin
twitter
About Us
  • BFSI
  • Energy
  • Infocom
  • Mining
  • Venture
  • Industry
  • Travel
  • Civic
  • Food, Health, Ag
  • Real Estate
  • Responsibility
  • Economy
  • Law & Justice
  • Interview
  • Analysis
first data bancolombia colombia (Photo credit: Jared Wade)

Bancolombia’s Senior Unsecured Notes Due 2025 Rated BBB By Fitch

Posted On February 8, 2020
By : Loren Moss
Comment: 0
Tag: bancolombia, bbb+, dollardenominated, fitch, fitch ratings, issuerdefaultrating, notes, NYSE: CIB, unsecured notes, viabilityrating

Fitch Ratings has assigned a ‘BBB’ rating to Bancolombia’s (NYSE: CIB) upcoming US dollar denominated senior unsecured notes. The global notes for $950 million dollars are due in 2025. The interest rate for the notes is 3%; interest payments will be semi-annual. The net proceeds of these senior notes will be used to replace existing outstanding notes and to pay accrued interests.

The rating assigned to Bancolombia’s senior unsecured notes is aligned with its ‘BBB’ Long-Term Foreign Currency Issuer Default Rating (IDR), as the likelihood of default is the same. The notes will rank pari passu with all of Bancolombia’s existing and future senior unsecured obligations.

Bancolombia’s IDR is driven by its ‘bbb’ Viability Rating (VR). The VR is highly influenced by Fitch’s assessment of the bank’s various operating environments. Additionally, Bancolombia’s ratings consider its robust company profile and sound financial performance for its rating category, although capital adequacy metrics continue to compare unfavorably with similarly rated international peers (emerging market commercial banks in the ‘bbb’ rating category).

The bank’s senior debt ratings will remain aligned with Bancolombia’s Long-Term IDRs and, therefore, will mirror any potential changes in the IDRs.

Fitch currently rates Bancolombia as follows:

  • Long-Term Foreign Currency IDR ‘BBB’; Outlook Negative;
  • Short-Term Foreign Currency IDR ‘F2’;
  • Long-Term Local Currency IDR ‘BBB’; Outlook Negative;
  • Short-Term Local Currency IDR ‘F2’;
  • Viability Rating ‘bbb’;
  • Support Rating ‘2’;
  • Support Rating Floor ‘BBB-‘;
  • Senior unsecured debt ‘BBB’;
  • Subordinated debt ‘BBB-‘;
  • Subordinated debt ‘BB+’.
DON'T MISS OUT: The only English-language Colombia news that's strictly business, markets, & investment!
Join global executives & investors by subscribing to our FREE weekly updates
I agree to have my personal information transferred to MailChimp ( more information ) DISCLAIMER: Protección de Datos Personales Artículo 15 de la Constitución Política de Colombia, ley 1581 de 2012 y decreto 1377 de 2013.
We will never spam you or share your email address ¡Nunca Jamás!

Share the news!

  • Facebook
  • Twitter
  • Print
  • WhatsApp
  • LinkedIn
  • Skype

Related

Share your thoughts:

comments

About the Author
Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.
  • google-share
Previous Story

US Leads Foreign Direct Investment In Bogotá, Followed By Canada In 2019

Next Story

Moody’s Upgrades Lifemiles To B1 From B2

Related Posts

BPro’s Bigger, More Comprehensive CX Summit Moves To Cartagena May 11th & 12th
0

BPro’s Bigger, More Comprehensive CX Summit Moves To Cartagena May 11th & 12th

Posted On April 12, 2022
, By Loren Moss
0

What Jumps Out : Crisis of Confidence?

Posted On January 26, 2022
, By Rupert Stebbings
0

What Jumps Out: A Disruptive Year Ahead

Posted On January 17, 2022
, By Rupert Stebbings

You must log in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.





Search

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022
Colombia’s attorney general charged Russian national Sergein Vagin and six other people

Alleged Russian Spy Charged…With Running A Gambling Mafia

Posted On April 12, 2022

Viva Launches Nonstop Routes To Buenos Aires, Argentina From Medellín & Bogotá, Colombia

Posted On April 12, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Court Blocks Colombia’s $370 Million USD Emergency Loan To Bankrupt Avianca Airlines

Posted On September 12, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

AVIANCA IS BANKRUPT

Posted On May 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

[…] Duque’s administration will...

Posted On March 8, 2022

[…] See also: 13 Police Injured In...

Posted On March 3, 2022

Watch This!

Consider Advertising With Us

Click here to visit Expat Group's English site

Subscribe Free

don't forget to include "http://"
* = required field
Your Background / Function








unsubscribe from list

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

Watch This!

Contact Us (Click the image):

Pages

  • About Us
  • Colombia Events, Conferences, Festivals and Important Dates
  • Contact Us
  • main
  • Media Partnerships
  • Privacy Policy
  • Search Results
  • Whatsapp test page
Copyright 2014-2020 Finance Colombia All Rights Reserved. We may earn commissions from qualifying purchases.
Posting....
WhatsApp us