- The active participation of both institutional investors and individuals demonstrates their confidence in the company and in its long-term strategic vision, as well as investor interest in the Colombian infrastructure sector.
- The backing of Grupo Argos, as controlling shareholder of Odinsa, enhanced investor confidence in the transaction.
Medellín, October 2, 2020. Today, October 2, 2020, Odinsa –the Grupo Argos concessions company– successfully completed a COP 280 billion ordinary bond issuance in the public securities market, obtaining positive response from the market, with total demand and offers for the bonds greater than the issuance amount.
The company received offers for COP 436,805 million, demonstrating investor confidence in its strategy, which focuses on contributing to regional connectivity and competitiveness through the effective management of its road and airport projects and its decided efforts to bring to fruition private initiatives, with the aim of contributing to the creation of development opportunities in the country and the region.
“This positive market response towards our issuance ratifies confidence and backing for our management approach and interest in the infrastructure sector, and it reaffirms our commitment to developing projects that will have a positive impact on the competitiveness of Colombia and the region,” said Mauricio Ossa, CEO of Odinsa.
The resources obtained will be used to replace ordinary bond liabilities issued in 2017, which mature on October 4, 2020. This bond issue and placement provides the company greater financial flexibility to continue strengthening its position in the industry and maintaining growth under a structured financing arrangement.
The issuance was led by Banca de Inversión Bancolombia S.A. Corporación Financiera in the capacity of Structuring Agent, Valores Bancolombia S.A. Comisionista de Bolsa as Lead Placement Agent, Credicorp Capital Colombia S.A. as Placement Agent and the firm Posse Herrera Ruiz as legal consultants.
The following are the details of the bond issue:
|Issue date||October 2, 2020|
|Maturity date||October 2, 2023|
|Maximum yield offered in the issuance notice||5.80%|
|Periodicity of interest payments||QA|
|Amortization of principal||At maturity|
|Interest payment dates||January 2, April 2, July 2, October 2, from the issue date to the maturity date|
|Amount of demand (COP, millions)||COP 436,805|
|Amount awarded (COP, millions)||COP 280,000|
Currently, Odinsa, the concessions company of Grupo Argos, has a robust and diversified portfolio comprised by 7 road concessions and 2 airport concessions in Colombia, Ecuador, Dominican Republic and Aruba, which are responsibly managed, contributing to shared value creation and long-term sustainable growth.
For additional information about Odinsa, contact: Viviana Arroyave, Communications Director / email@example.com / 3176469218
Maria Luisa Concha, Communications Analyst / firstname.lastname@example.org / 3214909926
Visit www.odinsa.com and our social media @SomosOdinsa on Twitter I Odinsa on LinkedIn