Banco de Bogota Loan Approaches Finish Line

Banco de Bogota is expected to wrap up a $500m 3-year loan today after bringing in a total of 12 participating banks. The borrower is keeping the $500m size despite having already raised $600m this week through an upsized 5-year cross-border bond. The bulk of the proceeds from both transactions will take out a 1-year bridge used to acquire BA-Credomatic in Central America last year. Citigroup, HSBC and JPMorgan led the loan, the bond and the original bridge. Another 9 banks are expected to sign up to the loan. This group is heard to include international institutions as well as several regional banks.