The Republic of Colombia (“Colombia”) announced today the commencement of an offer to purchase for cash (the “Offer”) from each registered holder or beneficial owner (each, a “Holder” and, collectively, the “Holders”) the outstanding bonds of the series set forth in the table below (collectively, the “Existing Bonds”), such that the maximum amount to be paid for the Existing Bonds validly tendered and accepted for purchase pursuant to the Offer, not including interest accrued and unpaid thereon, is to be determined by Colombia in its sole discretion (such amount for each series, the “Maximum Purchase Price”). The terms and conditions of the Offer are set forth in the offer document, dated August 4, 2025 (the “Offer Document”).
The Offer is not conditioned upon any minimum participation of any series of the Existing Bonds.
The purchase price to be paid per U.S.$1,000 principal amount of each series of Existing Bonds that are accepted pursuant to the Offer will be an amount equal to the fixed price indicated in the table below (such amount for each series, the “Purchase Price”). In addition to the Purchase Price, Holders whose Existing Bonds are accepted for purchase in the Offer will also receive any accrued and unpaid interest from, and including, the last interest payment date for such Existing Bonds up to, but excluding, the Settlement Date (the “Accrued Interest”). If the aggregate Purchase Price for all validly tendered Existing Bonds of a series (the “Tendered Aggregate Purchase Price”) would exceed the Maximum Purchase Price for such series, then Colombia will, in its sole discretion, apply a proration factor to the Tenders of such series (as defined below).
(1) In addition, investors will receive Accrued Interest, as described below
Existing Bonds may be tendered only in principal amounts equal to the minimum authorized denomination and integral multiples thereof, as set forth below for each series of Existing Bonds (the “Minimum Denomination”). Holders who tender less than all of their Existing Bonds must continue to hold Existing Bonds in at least the Minimum Denomination.
Colombia reserves the right, in its sole discretion, not to accept any valid orders to tender any series of Existing Bonds in accordance with the terms and conditions of the Offer (“Tenders”), to modify the Purchase Price for any series of the Existing Bonds, or to terminate the Offer for any reason. In the event of a termination of the Offer, the tendered Existing Bonds will be returned to the tendering Holder.
If Colombia accepts all or a portion of a Holder's Tender, the Holder will be entitled to receive for such Existing Bonds the applicable Purchase Price plus Accrued Interest, which will be paid on the Settlement Date (as defined below), if the conditions of the Offer are met.
The Offer commenced at or around 8:00 a.m., New York time on Monday, August 4, 2025 and, unless extended or earlier terminated by Colombia in its sole discretion, the Offer and withdrawal rights will expire at 5:00 p.m., New York City time on Friday, August 8, 2025(the “Expiration Time”). Holders who have validly tendered their Existing Bonds may withdraw such Existing Bonds at any time at or prior to the Expiration Time. The settlement of the Offer is scheduled to occur on Thursday, August 14, 2025 (the “Settlement Date”).
At or about 8:00 a.m. (New York City time) on Monday, August 11, 2025, subject to change without notice, Colombia expects to announce: (i) the Maximum Purchase Price for each series; (ii) the Tendered Aggregate Purchase Price, for each series (iii) the aggregate principal amount of Tenders of each series of the Existing Bonds that have been accepted; and (iv) any proration of Tenders of the Existing Bonds.
Tenders for Existing Bonds must be submitted through a direct participant in The Depository Trust Company (“DTC”), Euroclear Bank SA/NV, as operator of the Euroclear System (“Euroclear”), or Clearstream Banking, S.A. (“Clearstream”), as applicable, in accordance with the procedures and deadlines established by each such clearing system. Any Holder that holds Existing Bonds through a custodian cannot submit a Tender directly and should instead contact its custodian to instruct the direct participant to submit a Tender on its behalf. There is no letter of transmittal or guaranteed delivery procedures for the Offer.
You are advised to consult with the broker, dealer, bank, custodian, trust company, or other nominee through which you hold your Existing Bonds as to the deadlines by which such intermediary would require receipt of instruction from you to participate in the Offer in accordance with the terms and conditions of the Offer as described in the Offer Document in order to meet the deadlines set forth in the Offer Document. The deadlines set by DTC, Euroclear, Clearstream, or any such intermediary for the submission of Existing Bonds may be earlier than the relevant deadlines specified in the Offer Document. The acceptance of any Tenders forwarded to DTC from Euroclear or Clearstream after the Expiration Time will be in the sole discretion of Colombia.
The complete terms and conditions of the Offer are set forth in the Offer Document, together with any amendments or supplements thereto, which holders are urged to read carefully before making any decision with respect to the Offer.
Global Bondholder Services Corporation is serving as the depositary agent and the information agent in connection with the Offer (the “Tender and Information Agent”), and the Offer Document may be downloaded from the Tender and Information Agent's website https://www.gbsc-usa.com/colombia/ or obtained from the Tender and Information Agent at the contact below:
, or from the Dealer Manager.
The dealer manager (the “Dealer Manager”) for the Offer is:
Citigroup Global Markets Inc.388 Greenwich Street, 4th Floor TradingNew York, New York 10013 United States of America
Attention: Liability Management GroupCollect: +1 (212) 723-6106Toll free: +1 (800) 558-3745
Questions regarding the Offer may be directed to and the Offer Document may be obtained from the Dealer Manager at the above contact.
RepublicofColombiaMinisterio de Hacienda y Crédito PúblicoDirección General de Crédito Público y Tesoro NacionalCarrera 8, No. 6C-38, Piso 1Bogotá D.C., Colombia
For press inquiries:
Contact: Javier Andrés Cuéllar SánchezE-mail: oricolombia@minhacienda.gov.ocCall: (57) 601 3811700 Ext 3126
Important Notice
This announcement is not an offer to purchase or a solicitation of an offer to sell the Existing Bonds. The Offer will be made only by and pursuant to the terms of the Offer Document, as may be amended or supplemented from time to time.
The distributionof materials relating to the Offer, and the transactions contemplated by the Offer, may be restricted by law in certain jurisdictions. The Offer is made only in those jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where they are prohibited. If materials relating to the Offer come into your possession, you are required to inform yourself of and to observe all of these restrictions. Each person accepting the Offer shall be deemed to have represented, warranted and agreed (in respect of itself and any person for whom it is acting) that it is not a person to whom it is unlawful to make the Offer pursuant to the Offer Document, it has not distributed or forwarded the Offer Document or any other documents or materials relating to the Offer to any such person, and that it has complied with all laws and regulations applicable to it for purposes of participating in the Offer. Neither Colombia nor the Dealer Manager accepts any responsibility for any violation by any person of the restrictions applicable in any jurisdiction.
The materials relating to the Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the Offer be made by a licensed broker or dealer and the Dealer Manager or any affiliate of the Dealer Manager is a licensed broker or dealer in that jurisdiction, the Offer, as the case may be, shall be deemed to be made by the Dealer Manager or such affiliate in that jurisdiction. Owners who may lawfully participate in the Offer in accordance with the terms thereof are referred to as “holders.”
Stabilization/FCA
In relation to each Member State of the European Economic Area and theUnited Kingdom, this communication is only addressed to and directed at qualified investors respectively in that Member State and the United Kingdom within the meaning of Regulation (EU) 2017/1129, including as such Regulation is incorporated into United Kingdom law.
This announcement is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000 of theUnited Kingdom. This announcement is only being distributed to and is only directed: at (i) persons who are outside theUnited Kingdomor (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this announcement or any of its contents.
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SOURCE The Republic of Colombia
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