GNB Sudameris S.A. Announces Extension Of Tender Offer For Its 7.50% Subordinated Notes Due 2022

BOGOTÁ, Colombia, Sept. 24, 2020 /PRNewswire/ -- GNB Sudameris S.A. ("GNB") announced today that it is extending the Expiration Date of the previously announced offer to purchase any and all of the outstanding 7.50% Subordinated Notes due 2022 issued by GNB (the "Notes"), for a purchase price for the Notes equal to the Purchase Price plus Accrued Interest (as defined in the Offer to Purchase) (the "Tender Offer"). The terms and conditions of the Tender Offer are described in the offer to purchase, dated September 18, 2020 (the "Offer to Purchase") and the related letter of transmittal (the "Letter of Transmittal") and notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase and the Letter of Transmittal, the "Offer Documents").

The expiration date applicable to the Tender Offer, previously scheduled for 5.00 p.m., New York City Time, on September 24, 2020, has been extended to 5.00 p.m., New York City Time, on October 1, 2020 (such time and date, as it may be further extended, the "Expiration Date"), unless further extended or earlier terminated. The deadline for holders to withdraw their validly tendered Notes has also been extended to 5.00 p.m., New York City Time, on October 1, 2020, unless further extended or earlier terminated. The deadline for delivery of a Notice of Guaranteed Delivery has also been extended to 5:00 p.m., New York City Time, on October 5, 2020, unless further extended or earlier terminated, and the settlement date and guaranteed delivery settlement date applicable to the Tender Offer are now currently expected to be October 6, 2020. As of 5:00 p.m., New York City time, on September 24, 2020, the aggregate principal amount of Notes tendered under the Tender Offer was U.S.$89,276,000.

Accordingly, holders of the Notes who (i) validly tender and do not validly withdraw their Notes on or prior to the Expiration Date or (ii) deliver a properly completed and duly executed Notice of Guaranteed Delivery and all other required documents on or prior to the Expiration Date and tender their Notes prior to the Deadline for Delivery of Notice of Guaranteed Delivery, and whose Notes are accepted for purchase pursuant to the Tender Offer will be able to receive the previously announced tender offer consideration for the Notes. Holders of Notes who previously tendered their Notes do not need to retender such Notes or take any other action in response to this announcement in order to receive the tender offer consideration.

Except as described in this press release, all terms and conditions of the Tender Offer as described in the Offer to Purchase remain unchanged. The consummation of the Tender Offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase. GNB may, in its sole discretion, terminate, extend or amend the Tender Offer at any time as described in the Offer to Purchase.

The information and tender agent for the Tender Offer is D.F. King & Co., Inc. To contact the information and tender agent, banks and brokers may call +1 (212) 269-5550, and others may call U.S. toll-free: +1 (800) 967-7510 or email Additional contact information is set forth below.

By Mail, Hand or Overnight Courier:
48 Wall Street
New York, New York 10005
United States of America
Attn: Andrew Beck

By Facsimile Transmission:
(for eligible institutions only)
+1 (212) 709-3328
Attention: Andrew Beck
Confirmation by Telephone
+1 (212) 269-5552

Copies of each of the Offer Documents are available at the following web address:

Any questions or requests for assistance or for additional copies of this notice may be directed to the dealer managers at their respective telephone numbers set forth below or, if by any Holder, to such Holder's broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Tender Offer.

The Dealer Managers for the Tender Offer are:

BofA Securities


Goldman Sachs & Co. LLC

One Bryant Park, 9th Floor
New York, NY 10036
Attn: Liability Management Group

388 Greenwich Street, 7th Floor
New York, New York 10013
Attention: Liability Management Group

200 West Street
New York, New York 10282 
Attn: Liability Management Group

Collect: +1 (646) 855-8988
Toll Free: +1 (888) 292-0070


Collect: +1 (212) 723-6106
Toll Free: +1 (800) 558-3745


Collect: +1 (212) 357-1452
Toll-Free: +1 (800) 828-3182

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor. The Tender Offer is made only by and pursuant to the terms of the Offer Documents, and the information in this notice is qualified by reference to the Offer to Purchase and the related Letter of Transmittal and Notice of Guaranteed Delivery. None of GNB, the Dealer Managers or the information and tender agent makes any recommendation as to whether Holders should tender their Notes pursuant to the Tender Offer.

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SOURCE GNB Sudameris S.A.

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