#Colombia #Tender Offer #Medellín #SURA Asset Management #Senior Guaranteed Notes

Termination of Tender Offer by SURA Asset Management S.A.

In a recent announcement, SURA Asset Management S.A., a well-regarded investment firm based in Colombia, disclosed the cessation of its previously stated tender offer for the purchase of senior guaranteed notes. This decision comes in response to significant market fluctuations, which have led the company to conclude that proceeding with the purchase is inadvisable at this time.

On April 11, 2025, SURA noted that it had planned to acquire up to $175 million in aggregate principal amount of its 4.375% Senior Guaranteed Notes, which are scheduled to mature in 2027. The tender offer was detailed in an Offer to Purchase document dated March 31, 2025. However, the execution of this offer hinged on the satisfaction of certain financing conditions, which have now not been met.

Reasons for Termination

The company specified that the decision to terminate the tender offer arises from its assessment of current global market conditions. The volatility in financial markets has undermined the prospects of successfully executing the offering of new notes, a critical component of fulfilling the financing conditions stipulated in the Offer to Purchase. Consequently, SURA Asset Management is opting to pause and reassess the marketplace before any new commitments to such transactions are made.

In light of this termination, each of the notes that had been tendered will be reverted to their respective holders without additional payment. This action highlights the fluid and unpredictable nature of the financial markets, particularly in a time of economic uncertainty.

Future Actions

While SURA has officially terminated the tender offer, the company announced that it plans to continue monitoring the market conditions closely. The intent is to evaluate the right moment for future transactions, thus signaling a commitment to making decisions aligned with fiscal responsibility and market realities.

This statement also serves as a reminder that the world of finance can be influenced by numerous external factors. What seems viable today may become tenuous in light of changing economic indicators. SURA Asset Management, having built a reputable standing in the asset management space, remains dedicated to preserving value for its stakeholders, including individuals and institutions across Latin America.

About SURA Asset Management

SURA Asset Management S.A. is recognized as a leading asset management firm focusing on retirement and investment solutions not just for individuals but also for corporations and financial institutions. Its diverse portfolio spans various investment strategies, consisting of mandatory and voluntary retirement options, advisory services for wealth management, and corporate benefits solutions, establishing itself as an integral player within the financial landscape of Latin America.

For queries related to the tender offer, holders of the notes can reach out to Global Bondholder Services Corporation or contact specific dealer managers for additional information. It remains critical for investors and stakeholders to stay informed about developments as SURA charts its path forward in a fluctuating market environment.

In summary, while today's decision signifies a halt in one segment of the company’s operations, it lays the groundwork for thoughtful and strategic planning as SURA evaluates the shifting market landscape. Stakeholders can take comfort in the firm’s priority of careful market assessments, enabling informed decisions that prioritize the stability and growth of investments in the long run.