Grupo de Inversiones Suramericana : SURA has received bids amounting to COP 2 billion for its latest bond issue (for a bid-to-cover of 3.35)

Medellin. May 7, 2014  As previously announced, today Grupo SURA launched its latest domestic issue of Ordinary Bonds for which it received bids for the different series offered totaling COP 2 billion (USD 1.02 billion) that is to say 3.35 times the initial amount offered of COP 600,000 million (USD 304 million).

This new issue forms part of the Company's ongoing plans to extend its debt profile while at the same time taking full advantage of the currently favorable market rates. It must be noted that Grupo SURA´ s gearing ratio shall continue quite low compared to its size and equity capital, and once this debt substitution is carried out,  its debt ratio shall be the same as that reported in March 2014, that is to say 4.7%

The results of this latest issue are as follows:

·         Bids: COP 2 billion (USD 1.02 billion)

·         Bid-to-cover ratio: 3.35

·         Amount allotted: COP 650 thousand million (USD 330 million)

Breakdown of Grupo SURA's latest bond issue:

"We are extremely pleased with the results of our latest bond issue, which have once again confirmed the amount of market confidence inspired by our different bond and equity instruments on the local capital market. This also provides us with important backing for our ongoing financial strategy" stated Mr. Ignacio Calle Cuartas, Grupo SURA's Chief Corporate Finance Officer.

The maximum limit assigned by the Group´s Board of Directors for this issue of bonds comes to COP 1.3 billion (USD 660 million), and therefore after placing this issue, the Company shall have another COP 650,000 million (USD 330 million) left over for another future bond issue, if required.