Bancolombia in $1.3 Billion Preferred Share Offering

March 12, 2014

Cleary Gottlieb served as counsel to BofA Merrill Lynch and Morgan Stanley in their capacity as placement facilitation agents in connection with a distribution by Bancolombia, a leading Colombian financial institution, of rights to purchase preferred shares and an offering by Bancolombia of new preferred shares, in each case, on a Section 4(a)(2) / Regulation S basis. On March 3, Bancolombia priced the offering of 110,000,000 preferred shares pursuant to these transactions at a subscription price for each preferred share of COP 24,200, resulting in a capital raise of approximately $1.3 billion. The offering closed on March 12.