Banistmo’s $400 Million Offering

July 31, 2020

Cleary Gottlieb represented initial purchasers BofA Securities, Citigroup, and J.P. Morgan in Banistmo S.A.’s (Banistmo) international bond offering.

Banistmo issued $400 million in principal amount of 4.25% senior notes due 2027. The notes were offered for sale in the United States pursuant to Rule 144A and outside of the United States pursuant to Regulation S. The offering, which represented Banistmo’s second international bond offering since its debut in 2017, priced on July 28, 2020, and closed on July 31, 2020.

Banistmo is one of the leading financial institutions in Panama and is a wholly owned subsidiary of Bancolombia S.A., the largest bank in Colombia.