FINNEWS LATAM-Colombia's Sura unit hires BofA, Morgan for potential bond deal

Wed Apr 2, 2014 12:21pm EDT

Sura Asset Management SA, one of Latin America's largest asset managers, hired on Wednesday the investment-banking units of Bank of America Corp and Morgan Stanley & Co to arrange a series of meetings with U.S., Latin American and European investors that could lead to a bond offering. According to a source with direct knowledge of the situation, Sura Asset Management will start the meetings on April 4. A potential global, dollar-denominated bond offering could follow, depending on market conditions, said the source, who requested anonymity because the transaction is in the works.

The company, a unit of Colombia's Grupo de Inversiones Suramericana SA, has about $113 billion in assets under management and almost 17 million clients in Chile, Colombia, El Salvador, Perú, México and Uruguay.

Efforts to contact Sura Asset Management's press office in Medellín, Colombia, for comment were unsuccessful.

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