Holland & Knight Advises RCI Colombia on $53 Million Securities Offering

BOGOTÁ (April 9, 2024) – Holland & Knight advised RCI Colombia S.A., a leading financing company, in its successful public offering of bonds on the Colombian Stock Exchange, Bolsa de Valores de Colombia (BVC). The issuance of securities, which occurred on April 4, raised 200 billion Colombian pesos (approximately US$53 million).

The bonds were offered at 36- and 48-month tenors. The bid-to-cover ratio was at 1.68 times oversubscribed from the initial offering of 130 billion Colombian pesos (approximately US$35 million). The issuance was registered in the Superintendencia Financiera de Colombia's (SFC) Registro Nacional de Valores y Emisores (RNVE). The securitization received a AAA rating from BRC Ratings – S&P Global S.A.

Based in Colombia with its office in Envigado, RCI makes a return to the bond market after its last issuance in 2021 and plans to use the proceeds to further grow the company.

Holland & Knight's representation of RCI was led by Partner Camilo Gantiva Hidalgo and supported by Associates Juan Felipe Fontecha Mejía and Simón Escobar Gomez.

"This is great news for RCI, which now has stronger financing options," said Mr. Camilo Gantiva Hidalgo. "It is equally positive for the Colombian stock market, which shows growing investor interest as participation is becoming more accessible through the FinTech platform Trii."

"With pride, we extend our most sincere congratulations to RCI Colombia, to the Banca de Inversión Bancolombia team in its capacity as structurer and coordinator of the issuance, and the other teams involved in this important achievement," he added.