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Banco Continental launches tender offer for 2017 senior notes

said it has commenceda cash tender offer to purchase any and all of its outstanding aggregate principalamount of its 8.875% senior notes due 2017.

The total purchaseprice offered for each $1,000 principal amount of notes is $1,015.00, plus accruedand unpaid interest, the bank said in a July 8 statement.

As of July 7,$176.5 million aggregate principal amount of the notes was outstanding. The offerwill expire July 14 while payment will be made July 15, unless extended.

Citigroup GlobalMarkets Inc. serves as dealer manager.