Author: admin

  • Poco F8 Pro runs Geekbench too, revealing its chipset

    Poco F8 Pro runs Geekbench too, revealing its chipset

    Yesterday we caught the Poco F8 Ultra in the Geekbench online database, with a prototype having run the benchmark. This revealed that it’s powered by the Snapdragon 8 Elite Gen 5 SoC.

    Today it was the Poco F8 Pro’s turn to run Geekbench,…

    Continue Reading

  • A Look at CuriosityStream’s Valuation After AI Data Revenue Surge and Dividend Announcement (CURI)

    A Look at CuriosityStream’s Valuation After AI Data Revenue Surge and Dividend Announcement (CURI)

    CuriosityStream (CURI) just reported a 46% jump in revenue for the third quarter, fueled largely by explosive growth in its AI training data licensing business. The company also declared a dividend for the fourth quarter.

    See our latest analysis for CuriosityStream.

    CuriosityStream’s pivot into AI data licensing and the latest quarterly results have caught investors’ attention, with the share price rallying 188.6% year-to-date and a stunning 199.3% total shareholder return over the past twelve months. Momentum remains strong in the short term, which suggests the renewed growth narrative is resonating even as the company navigates evolving revenue streams.

    If CuriosityStream’s transformation story intrigues you, now’s a great time to broaden your search and discover fast growing stocks with high insider ownership

    With the stock’s rapid ascent this year and ambitious revenue forecasts ahead, the big question is whether CuriosityStream is still trading at a discount or if the market has already priced in all that future growth.

    With CuriosityStream shares closing at $4.56 and the narrative’s fair value set at $6.17, current pricing suggests meaningful upside for those who believe in the company’s growth blueprint. Strong catalysts and forecast improvements frame an ambitious but debated valuation, driven by specific company milestones.

    Surging demand for high-quality, rights-cleared video for AI training is driving a transformative new licensing revenue stream for CuriosityStream. Management cited recurring and growing partnerships with large-scale AI companies. This is establishing a durable, high-margin revenue base that is expected to fuel both top-line and earnings growth.

    Read the complete narrative.

    Is this growth run just getting started? The most popular narrative highlights bold assumptions for future revenue, profit margins, and share count. There’s a projection buried within that could flip expectations for years ahead. Curious what strategic shifts and industry forces are steering this bullish price target? Delve into the full narrative to see the math behind the market optimism.

    Result: Fair Value of $6.17 (UNDERVALUED)

    Have a read of the narrative in full and understand what’s behind the forecasts.

    However, persistent subscription declines and the unpredictable nature of AI licensing revenue could easily disrupt CuriosityStream’s current growth trajectory.

    Find out about the key risks to this CuriosityStream narrative.

    While analysts see upside based on growth and future potential, the current price-to-sales ratio of 4x stands out. This is higher than the US Entertainment industry average of 1.7x and well above the fair ratio of 1x. Such a gap suggests investors today could be paying up for optimism, which increases the level of valuation risk if growth stalls. Does the market know something others do not, or are expectations running ahead of reality?

    See what the numbers say about this price — find out in our valuation breakdown.

    NasdaqCM:CURI PS Ratio as at Nov 2025

    Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out CuriosityStream for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 879 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

    If you want to dig deeper or see things from your own perspective, you can put together your own CuriosityStream story in just a few minutes. Do it your way

    A great starting point for your CuriosityStream research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

    Don’t wait on just one trend. Smart investors know opportunity loves company, so consider jumping on market shifts before the crowd does and elevate your strategy.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include CURI.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

    Continue Reading

  • Lahore records ‘hazardous’ air quality, Delhi ranks as second most polluted city

    Lahore records ‘hazardous’ air quality, Delhi ranks as second most polluted city

    An aerial view shows the Badshahi Mosque engulfed in dense smog in Lahore on November 4, 2025. — AFP
    • Lahore records extremely high AQI value of 533 around 9am.
    • Main pollutant 68.4 times higher than WHO annual…

    Continue Reading

  • Assessing Valuation After Strong Q3 Revenue and Profit Growth

    Assessing Valuation After Strong Q3 Revenue and Profit Growth

    Melco Resorts & Entertainment (MLCO) released its latest quarterly earnings, showing a clear jump in both revenue and net income compared to the same period last year. The company’s improving profitability has caught investor attention.

    See our latest analysis for Melco Resorts & Entertainment.

    The upbeat earnings report appears to have powered strong momentum in Melco Resorts & Entertainment’s share price. The stock has climbed 11% over the past month and surged 64% so far this year. Although the five-year total shareholder return is still well below its prior highs, recent gains suggest a shift in sentiment as the company’s fundamentals improve and confidence returns.

    If Melco’s sharp turnaround has you thinking bigger, now is a perfect moment to broaden your search and discover fast growing stocks with high insider ownership

    Given the sharp rally and recent earnings surprise, investors are now weighing whether Melco Resorts & Entertainment remains undervalued or if the market has already factored in its future growth potential. Is there still a buying opportunity, or has optimism run ahead of reality?

    At a price-to-earnings (P/E) ratio of 34x, Melco Resorts & Entertainment’s valuation is notably higher than the industry average. This makes the stock look expensive at the latest close of $9.06 despite recent growth.

    The P/E ratio measures how much investors are willing to pay per dollar of company earnings. It is a widely watched indicator for hospitality companies because profits can fluctuate significantly in this sector due to shifting consumer demand and economic cycles.

    While Melco’s P/E ratio is higher than the U.S. Hospitality industry average of 21.4x, it is still beneath the peer group average of 40.2x. This suggests the market is pricing in robust future earnings growth and a turnaround in profitability, but perhaps not to the same degree as its closest rivals. The fair price-to-earnings ratio is estimated at 33.3x, not far from Melco’s current multiple, which could mean future re-rating potential is limited.

    Explore the SWS fair ratio for Melco Resorts & Entertainment

    Result: Price-to-Earnings of 34x (OVERVALUED)

    However, slower revenue growth or a sudden dip in profitability could challenge the optimism that has been driving Melco Resorts & Entertainment’s recent share price rally.

    Find out about the key risks to this Melco Resorts & Entertainment narrative.

    Looking beyond the price-to-earnings ratio, our DCF model estimates Melco Resorts & Entertainment’s fair value at $21.84, which is 58.5% above its current share price. This approach suggests the market may be underestimating Melco’s long-term cash flow prospects. Is the stock an overlooked opportunity?

    Look into how the SWS DCF model arrives at its fair value.

    MLCO Discounted Cash Flow as at Nov 2025

    Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Melco Resorts & Entertainment for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 879 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

    If you have a different perspective or prefer digging into the numbers yourself, you can shape your own Melco Resorts & Entertainment story in just a few minutes with Do it your way.

    A great starting point for your Melco Resorts & Entertainment research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.

    Stop limiting your search and try the Simply Wall Street Screener to target opportunities in overlooked areas, smart sectors, or strong income streams before the crowd catches on.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include MLCO.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

    Continue Reading

  • Apple intensifies succession planning for CEO Tim Cook, FT reports – Reuters

    1. Apple intensifies succession planning for CEO Tim Cook, FT reports  Reuters
    2. Apple intensifies succession planning for CEO Tim Cook  Financial Times
    3. Apple’s Succession Strategy: Preparing for Leadership Change  Devdiscourse
    4. Apple weighs post-Cook era as report points to John Ternus as likely next chief  Telegraph India
    5. Meet John Ternus: The 50-year-old Apple engineer who could replace Tim Cook as the next Apple CEO  financialexpress.com

    Continue Reading

  • Assessing Current Valuation as Shares Show Steady Progress

    Assessing Current Valuation as Shares Show Steady Progress

    EQT (OM:EQT) caught investor attention after its recent market move, with shares showing moderate shifts across the month and quarter. This opens up new discussions about how EQT is currently valued in the market.

    See our latest analysis for EQT.

    This year, EQT’s share price showed steady progress, up 8.3% year-to-date, while its one-year total shareholder return climbed to an impressive 15.5%. Momentum has been building, which suggests renewed investor confidence as market sentiment improves.

    If you’re looking to spot more companies where growth and management conviction go hand in hand, consider broadening your outlook and discover fast growing stocks with high insider ownership

    Given these recent shifts, the key question remains: is EQT still undervalued enough to warrant new investment? Alternatively, has the market already factored in the company’s growth prospects, leaving little room for further upside?

    With EQT’s most popular narrative estimating a fair value above the recent closing price of SEK 335, the market may be discounting stronger long-term growth potential than currently reflected. This section highlights the narrative’s core driver and invites you to explore the full valuation assumptions.

    The firm’s global diversification, especially its push into fast-growing Asian markets (e.g., India, Japan) and the U.S., positions it to benefit as more capital is funneled into private assets in these regions. This supports sustained AUM growth and higher future earnings.

    Read the complete narrative.

    Curious about what propels EQT’s target valuation far beyond the current price? The story hinges on a massive expansion plan, ambitious margin forecasts, and bold earnings projections. Want to discover which growth bets could make or break this outlook? Unlock the full details and see the financial reasoning behind this bullish case.

    Result: Fair Value of $372.65 (UNDERVALUED)

    Have a read of the narrative in full and understand what’s behind the forecasts.

    However, slower fundraising growth or execution challenges from expansion could quickly dampen EQT’s bullish outlook if these issues are not managed successfully.

    Find out about the key risks to this EQT narrative.

    Looking at valuation through the lens of the price-to-earnings ratio offers a different perspective. EQT trades at 42.5x earnings, which is much higher than the Swedish industry average of 25.3x and the fair ratio of 30.9x. This steep premium suggests greater valuation risk if market expectations change. Is this optimism justified, or are investors paying too much for growth?

    See what the numbers say about this price — find out in our valuation breakdown.

    OM:EQT PE Ratio as at Nov 2025

    If you want a different perspective or prefer diving into the details yourself, you can build your own narrative in just a few minutes: Do it your way

    A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding EQT.

    Don’t let fresh opportunities pass you by. The Screener surfaces new investment angles across key sectors and trends, helping you spot the next big winner before others do.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

    Companies discussed in this article include EQT.ST.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

    Continue Reading

  • US jury says Apple must pay Masimo $634 million in smartwatch patent case – Reuters

    1. US jury says Apple must pay Masimo $634 million in smartwatch patent case  Reuters
    2. Apple’s Redesigned Watch Faces Trade Commission Import Review  Bloomberg Law News
    3. Apple under USITC investigation again over Apple Watch blood oxygen sensing  AppleInsider
    4. Masimo wins $634M verdict in Apple spat as ITC considers import ban  MassDevice
    5. ITC To Scrutinize Redesigned Apple Watch In Masimo IP Fight  Law360

    Continue Reading

  • Bird flu slams seals and sea lions at the bottom of the world but spares Pacific Coast so far – Hanford Sentinel

    Bird flu slams seals and sea lions at the bottom of the world but spares Pacific Coast so far – Hanford Sentinel

    1. Bird flu slams seals and sea lions at the bottom of the world but spares Pacific Coast so far  Hanford Sentinel
    2. Avian flu has decimated world’s largest breeding colony of southern elephant seals  CIDRAP
    3. A marked decline in the southern elephant…

    Continue Reading

  • Asteroid capture and space mining could become a reality: Know what it is and how this new technology works |

    Asteroid capture and space mining could become a reality: Know what it is and how this new technology works |

    California-based aerospace startup TransAstra is developing a revolutionary inflatable device known as the Capture Bag. Designed in various sizes, this device aims to capture asteroids for mining purposes, as well as collect human-made space…

    Continue Reading

  • Republic of Colombia – Announcement of Offer to Purchase Old Bonds

    BOGOTA, Colombia, Nov. 14, 2025 /PRNewswire/ — Colombia announced today the commencement of an offer to purchase for cash (the “Offer“) from each registered holder or beneficial owner (each, a “Holder” and, collectively, the “Holders“) the outstanding bonds of the series set forth in the table below (collectively, the “Old Bonds“), such that the maximum amount to be paid for the Old Bonds validly tendered and accepted for purchase pursuant to the Offer, not including interest accrued and unpaid thereon, is to be determined by Colombia in its sole discretion (such amount for each series, the “Maximum Purchase Amount“).  The terms and conditions of the Offer are set forth in the offer document, dated November 14, 2025 (the “Offer Document“), including the borrowing or issuance of debt and receipt of funds by Colombia (the “Financing Condition“).

    Subject to the Financing Condition, the Offer is not conditioned upon any minimum participation of any series of the Old Bonds.

    The purchase price to be paid per U.S.$1,000, €1,000, Ps. 1,000 principal amount of each series of Old Bonds, as applicable, that are accepted pursuant to the Offer will be an amount equal to the fixed price indicated in the table below (such amount for each series, the “Purchase Price“). In addition to the Purchase Price, Holders whose Old Bonds are accepted for purchase in the Offer will also receive any accrued and unpaid interest from, and including, the last interest payment date for such Old Bonds up to, but excluding, the Settlement Date (as defined below) (the “Accrued Interest“). If the aggregate Purchase Price for all validly tendered Old Bonds of a series would exceed the Maximum Purchase Amount, then Colombia will, in its sole discretion, apply a proration factor to the Tenders (as defined below).


                          Old Bonds







    Old Bonds

    Outstanding Principal
    Amount as of November
    14, 2025

    Security Identifier

    Fixed Purchase Price(1)

    3.875% Global Bonds due 2026 (the “EUR
    2026 Global Bonds
    “)

    €634,893,000

    ISIN: XS1385239006

    Common Code: 138523900

    € 1,005.71

    9.850% Global TES Bonds due 2027 (the
    COP 2027 Global Bonds“, and together
    with the EUR 2026 Global Bonds, the
    Non-U.S. Dollar Bonds“)

    Ps.1,924,515,000,000

    ISIN: XS0306322065

    Common Code: 030632206

    Ps. 1,000.00

    3.875% Global Bonds due 2027

    U.S.$1,740,144,000

    CUSIP: 195325DL6

    ISIN: US195325DL65

    $1,000.00

    4.500% Global Bonds due 2029

    U.S.$2,000,000,000

    CUSIP: 195325DP7

    ISIN: US195325DP79

    $1,000.00

    3.000% Global Bonds due 2030

    U.S.$1,542,968,000

    CUSIP: 195325DR3

    ISIN: US195325DR36

    $918.75

    7.375% Global Bonds due 2030

    U.S.$1,900,000,000

    CUSIP: 195325 ER2

    ISIN: US195325ER27

    $1,086.25

    10.375% Global Bonds due 2033

    U.S.$340,511,000

    CUSIP: 195325BB0

    ISIN: US195325BB02

    $1,277.50

    8.000% Global Bonds due 2033

    U.S.$1,624,241,000

    CUSIP: 195325EF8

    ISIN: US195325EF88

    $1,127.50

    7.500% Global Bonds due 2034

    U.S.$2,200,000,000

    CUSIP: 195325EG6

    ISIN: US195325EG61

    $1,087.50

    8.500% Global Bonds due 2035

    U.S.$1,900,000,000

    CUSIP: 195325 ES0

    ISIN: US195325ES00

    $1,160.00

    8.000% Global Bonds due 2035

    U.S.$1,900,000,000

    CUSIP: 195325EL5

    ISIN: US195325EL56

    $1,117.50

    7.750% Global Bonds due 2036

    U.S.$2,000,000,000

    CUSIP: 195325EP6

    ISIN: US195325EP60

    $1,090.00

    7.375% Global Bonds due 2037

    U.S.$1,818,400,000

    CUSIP: 195325BK0

    ISIN: US195325BK01

    $1,066.25

    6.125% Global Bonds due 2041

    U.S.$2,500,000,000

    CUSIP:195325BM6

    ISIN: US195325BM66

    $928.75

    5.000% Global Bonds due 2045

    U.S.$3,670,948,000

    CUSIP: 105325CU7

    ISIN: US105325CU73

    $787.50

    8.750% Global Bonds due 2053

    U.S.$1,900,000,000

    CUSIP: 195325EM3

    ISIN: US195325EM30

    $1,192.50

    8.375% Global Bonds due 2054 (together
    with the other U.S. dollar denominated
    bonds listed above, the “U.S. Dollar
    Bonds
    “)

    U.S.$1,640,000,000

    CUSIP: 195325EQ4

    ISIN: US195325EQ44

    $1,147.50



    (1)

    Per $1,000 for the U.S. Dollar Bonds per €1,000 for the EUR 2026 Global Bonds and per Ps.1,000 for the COP 2027 Global Bonds.

    (2)

    In the case of the COP 2027 Global Bonds, the Purchase Price and related accrued interest will be paid in U.S. dollars, in an amount determined by converting the Purchase Price and related accrued interest to U.S. dollars at a currency exchange rate equal to the “Representative Market Rate” in effect as of 2:00 p.m., New York City time, on the U.S. business day prior to the Non-U.S. Dollar Bonds Tender Period Expiration Time  as calculated and published by the Financial Superintendency of Colombia, and which is available on Bloomberg by typing “COP TRM CurncyHP” or at the Financial Superintendency’s  website at https://www.superfinanciera.gov.co/publicaciones/60819/informes-y-cifrascifrasestablecimientos-de-creditoinformacion-periodicadiariatasa-de-cambio-representativa-del-mercado-trm-60819/.

    Old Bonds may be tendered only in principal amounts equal to the minimum authorized denomination and integral multiples thereof, as set forth below for each series of Old Bonds (the “Minimum Denomination“). Holders who tender less than all of their Old Bonds must continue to hold Old Bonds in at least the Minimum Denomination.

    In determining the amount of Old Bonds to be purchased against the Maximum Purchase Amount and available for purchases pursuant to the Offer, the aggregate U.S. dollar-equivalent purchase price of (i) the EUR 2026 Global Bonds shall be calculated at the exchange rate for the Euro to U.S. Dollar, as of 2:00 p.m., New York City time, on the U.S. business day prior to the Non-U.S. Dollar Bonds Tender Period Expiration Time (as defined below), as reported on Bloomberg screen page “FXIP” under the heading “FX Rate vs. USD” (or, if such screen is unavailable, a generally recognized source for currency quotations selected by Colombia with quotes as of a time as close as reasonably possible to the aforementioned), and (ii) the COP 2027 Global Bonds, shall be calculated at the exchange rate equal to the “Representative Market Rate” in effect as of 2:00 p.m., New York City time, on the U.S. business day prior to the Non-U.S. Dollar Bonds Tender Period Expiration Time  as calculated and published by the Financial Superintendency of Colombia, and which is available on Bloomberg by typing “COP TRM CurncyHP” or at the Financial Superintendency’s  website at https://www.superfinanciera.gov.co/publicaciones/60819/informes-y-cifrascifrasestablecimientos-de-creditoinformacion-periodicadiariatasa-de-cambio-representativa-del-mercado-trm-60819/.

    Old Bonds

    Minimum Authorized Denominations

    3.875% Global Bonds due 2026

    €100,000 and integral multiples of €1,000 in excess thereof

    9.850% Global TES Bonds due 2027

    Ps. 5,000,000 and integral multiples of Ps. 1,000,000 in excess thereof

    3.875% Global Bonds due 2027

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    4.500% Global Bonds due 2029

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    7.375% Global Bonds due 2030

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    3.000% Global Bonds due 2030

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    10.375% Global Bonds due 2033

    U.S.$1,000 and integral multiples of U.S.$1,000 in excess thereof

    8.000% Global Bonds due 2033

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    7.500% Global Bonds due 2034

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    8.500% Global Bond due 2035

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    8.000% Global Bonds due 2035

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    7.750% Global Bonds due 2036

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    7.375% Global Bonds due 2037

    U.S.$100,000 and integral multiples of U.S.$1,000 in excess thereof

    6.125% Global Bonds due 2041

    U.S.$100,000 and integral multiples of U.S.$1,000 in excess thereof

    5.000% Global Bonds due 2045

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    8.750% Global Bonds due 2053

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    8.375% Global Bonds due 2054

    U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof

    Colombia reserves the right, in its sole discretion, not to accept any valid orders to tender any series of Old Bonds in accordance with the terms and conditions of the Offer (“Tenders“), subject to applicable law, to increase or decrease the Purchase Price for any series of the Old Bonds, or to terminate the Offer for any reason. In the event of a termination of the Offer, the tendered Old Bonds will be returned to the tendering Holder.

    If Colombia accepts all or a portion of a Holder’s Tender, the Holder will be entitled to receive for such Old Bonds the applicable Purchase Price plus Accrued Interest, which will be paid on the Settlement Date (as defined below), if the conditions of the Offer are met.

    The Offer commenced on Friday, November 14, 2025.  Unless extended or earlier terminated in Colombia’s sole discretion, the Offer will expire at (i) 5:00 p.m., New York City time, on Wednesday, November 19, 2025 for U.S. Dollar Bonds (the “U.S. Dollar Bonds Tender Period Expiration Time“) and (ii) 5:00 p.m., New York City time, on Friday, November 21, 2025 for Non-U.S. Dollar Bonds (the “Non-U.S. Dollar Bonds Tender Period Expiration Time“).  In the event that the Offer to purchase U.S. Dollar Bonds or Non-U.S. Dollar Bonds is extended or earlier terminated, the terms “U.S. Dollar Bonds Tender Period Expiration Time” and “Non-U.S. Dollar Bonds Tender Period Expiration Time” shall mean the time and date on which such Offer, as so extended or earlier terminated, shall expire. The settlement of the Offer is scheduled to occur on Wednesday, November 26, 2025 (the “Settlement Date“). 

    The Old Bonds are held in book-entry form through either the facilities of The Depository Trust Company (“DTC“) or held in book-entry form through the facilities of Clearstream Banking, société anonyme (“Clearstream“), Euroclear Bank S.A./N.V., as operator of the Euroclear System (“Euroclear,” and together with DTC and Clearstream referred to herein as a “Covered Clearing System” and, collectively, as the “Covered Clearing Systems“). In the event of a termination of the Offer, the Old Bonds tendered pursuant to the Offer will be credited to the Holder through the relevant Covered Clearing System.

    You are advised to consult with the broker, dealer, bank, custodian, trust company, or other nominee through which you hold your Old Bonds as to the deadlines by which such intermediary would require receipt of instruction from you to participate in the Offer in accordance with the terms and conditions of the Offer as described in the Offer Document in order to meet the deadlines set forth in the Offer Document. The deadlines set by DTC, Euroclear, Clearstream, or any such intermediary for the submission of Old Bonds may be earlier than the relevant deadlines specified in the Offer Document. The acceptance of any Tenders forwarded to DTC from Euroclear or Clearstream after the Non-U.S. Dollar Tender Period Expiration Time or U.S. Dollar Tender Period Expiration Time, as the case may be, will be in the sole discretion of Colombia.

    The complete terms and conditions of the Offer are set forth in the Offer Document, together with any amendments or supplements thereto, which Holders are urged to read carefully before making any decision with respect to the Offer. 

    Global Bondholder Services Corporation is serving as the tender agent and the information agent in connection with the Offer (the “Tender and Information Agent“), and the Offer Document may be downloaded from the Tender and Information Agent’s website https://www.gbsc-usa.com/colombia/ or obtained from the Tender and Information Agent at the contact below:

    Contact information:                 

    Global Bondholder Services Corporation                                                                            

    Attention: Corporate Actions

    65 Broadway – Suite 404

    New York, New York 10006

    Attn: Corporate Actions

    Banks and Brokers call: +1 (212) 430-3774

    Toll free +1 (855) 654-2015

    E-mail: [email protected]  

    , or from the Dealer Managers.

    The dealer managers (the “Dealer Managers“) for the Offer are:

    Goldman Sachs & Co. LLC

    Attention: Liability Management  

    200 West Street, New York

    New York 10282-2198

    Toll Free: +1 (800) 828-3182

    Collect: +1 (212) 357-1452

     

    J.P. Morgan Securities LLC

    Attention: Latin America Debt
    Capital Markets  

    270 Park Avenue

    New York, New York 10017

    United States of America

    Toll Free: +1 (866) 846-2874

    Collect: +1 (212) 834-7279

     

    Santander U.S. Capital Markets LLC

    Attention: Liability Management

    437 Madison Avenue

    New York, New York 10022

    United States of America

    U.S. Toll Free: (855) 404-3636

    U.S. Collect: (212) 350-0660

    Email (U.S.): [email protected]

    Email (Europe) (Banco Santander, S.A.):
    [email protected]   
     

    Questions regarding the Offer may be directed to and the Offer Document may be obtained from the Dealer Managers at the above contact information.

    Republic of Colombia
    Ministerio de Hacienda y Crédito Público
    Dirección General de Crédito Público y Tesoro Nacional
    Carrera 8, No. 6C-38, Piso 1
    Bogotá D.C., Colombia 

    For press inquiries:

    Contact:  Javier Andrés Cuéllar Sánchez
    E-mail: [email protected]
    Call: (57) 601 3811700  Ext 3126

    Important Notice

    This announcement is not an offer to purchase or a solicitation of an offer to sell the Old Bonds. The Offer will be made only by and pursuant to the terms of the Offer Document, as may be amended or supplemented from time to time.

    The distribution of materials relating to the Offer, and the transactions contemplated by the Offer, may be restricted by law in certain jurisdictions.  The Offer is made only in those jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where they are prohibited. If materials relating to the Offer come into your possession, you are required to inform yourself of and to observe all of these restrictions.  Each person accepting the Offer shall be deemed to have represented, warranted and agreed (in respect of itself and any person for whom it is acting) that it is not a person to whom it is unlawful to make the Offer pursuant to the Offer Document, it has not distributed or forwarded the Offer Document or any other documents or materials relating to the Offer to any such person, and that it has complied with all laws and regulations applicable to it for purposes of participating in the Offer. Neither Colombia nor any Dealer Manager accepts any responsibility for any violation by any person of the restrictions applicable in any jurisdiction.

    The materials relating to the Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the Offer be made by a licensed broker or dealer and a Dealer Manager or any affiliate of a Dealer Manager is a licensed broker or dealer in that jurisdiction, the Offer, as the case may be, shall be deemed to be made by any Dealer Manager or such affiliate in that jurisdiction. Owners who may lawfully participate in the Offer in accordance with the terms thereof are referred to as “holders.”

    SOURCE Republic of Colombia

    Continue Reading