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SubscribeCuatrecasas has advised Davibank, Itaú Colombia, Bancolombia, and Banco Santander Colombia on restructuring COP 900 million in existing debt, owned by Empresa de Telecomunicaciones de Bogotá (“ETB”).
The transaction does not increase ETB’s debt, as its outstanding balance remains the same. The aim was to adjust the financing terms to ease cash flow pressure and strengthen long-term financial sustainability.
One of the key changes concerns maturity. The transaction extends ETB’s average debt maturity from three to five years and introduces a two-year grace period for principal repayments. This change will free up approximately COP 723 billion for investment to support the implementation of its transformation plan.
“We congratulate our clients Davibank, Itaú, Bancolombia and Banco Santander on their strong support for this refinancing, and ETB on its commitment to this transaction. It will undoubtedly drive growth and transformation at a company that plays a key role in Bogotá’s development,” said Cuatrecasas partner Juan Carlos Puentes. He led the advisory team made up of lawyers Andrés Herrera, Pablo Amorocho, and Juliana Álvarez (Finance); Manuel Gómez and Carlos Méndez (Public Law); and Margarita Llorente (Real Estate).Don’t miss our content
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