Colombia’s $4.95 Billion Debt Offering

Cleary Gottlieb represented the underwriters, including BofA Securities Inc., Citigroup Global Markets Inc., and Deutsche Bank Securities Inc., in the Republic of Colombia’s (Colombia) SEC-registered offering of $4.95 billion. The offering consists of a $2 billion 5.375% bonds due 2029, a $1.475 billion 6.125% bonds due 2031, and a $1.475 billion 6.5% bonds due 2033.

The offering of the bonds launched and priced on January 13, 2026, and is expected to close on January 21, 2026.

Colombia intends to use the proceeds of the bonds for general budgetary purposes. The bonds are expected to be listed on the London Stock Exchange and the Luxembourg Stock Exchange.

The Cleary team included partners Jorge Juantorena and Ignacio Lagos and associates Martin Sasson and Nicole Mueller. Partners Chase Kaniecki and Samuel Chang and associate Ana Carolina Maloney advised on sanctions matters. Partner Matthew Brigham and associate Nathaniel Pribil advised on tax matters, with assistance from law clerk Yoolim Lee.