- This placement does not signify an increase in the Company's debt; it is a debt refinancing process.
- The placement of this bond was 4 times oversubscribed, demonstrating SURA Asset Management's financial position and the confidence the financial market has in the Company.
- The Company recently received reaffirmation of its ratings from Fitch Ratings and Moody's, both firms highlighted SURA Asset Management's financial standing.
Medellin, May 6, 2025. SURA Asset Management, a Grupo SURA subsidiary and expert in retirement savings, investments, and asset management, successfully placed a bond maturing in 2032 for a total amount of USD 500 million, which was 4 times oversubscribed by global investors. The bonds were issued in the United States and will be listed on the Luxembourg Stock Exchange for trading on the Euro MTF market.
This issuance does not represent an increase in the Company's debt. It is part of SURA Asset Management's financial management strategy to refinance bank loans entered into in 2024 with Banco Bilbao Vizcaya Argentaria S.A., New York Branch and JPMORGAN CHASE BANK, N.A. maturing in 2027. Both BBVA and JP Morgan acted as Investment Banks in the transaction being announced.
Ignacio Calle, CEO of SURA Asset Management, stated: “This is a clear vote of confidence from the global investment market in the Company. We maintain debt levels below the margins of a company of our type. Furthermore, this process validates the strategy we have been implementing in capital allocation to strengthen our businesses in the region and generate value for our shareholders.”
This is SURA Asset Management's third bond issuance, demonstrating the Company's financial position, which is reflected in the financial results obtained in 2024. It is also consistent with the process it has been developing in recent years for its debt management, which was at minimum levels with capacity and room for issuance. In the last 5 years, gross debt decreased by USD 338 million.
Issuance Details:
Total Issuance Amount: USD 500 million
Bond Term: 7 years
Interest Rate: 6.35%
About SURA Asset Management
SURA Asset Management is an expert Company in retirement savings, investments, and asset management with a presence in Chile, Mexico, Colombia, Peru, Uruguay, the United States, and Luxembourg. It is a subsidiary of Grupo SURA, with other minority shareholders. As of December 2024, SURA Asset Management has USD 163 billion in assets under management belonging to more than 23 million clients in the region.
