Posse Herrera Ruiz advises Grupo Bolívar on bonds issuance

Posse Herrera Ruiz has counselled Grupo Bolívar S.A. on $262m bonds issuance

Posse Herrera Ruiz advised Grupo Bolívar on an insurance rated AAA by Fitch Ratings. They issued bonds initially for a billion Colombian pesos on the Colombian Capital Market through the Colombian Stock Exchange authorized by the Colombian Financial Superintendency employing Resolution No. 0835 of September 18th, 2020.

In the middle of the global pandemic due to the Coronavirus (COVID 19) on October 27th, 2020, Grupo Bolívar S.A. issuance had an extraordinary response from the market that submitted bids for ordinary bonds for a total amount of Colombian pesos 1.43 billion which represented a bid to cover of 1.79.

Posse Herrera Ruiz acted as the legal advisor for the issuer on the process of the authorization before the regulator. Posse Herra Ruiz team was led by partner Marina Posse (pictured), and involved associates Adriana Cabal and Catalina Rodríguez.