Colombia's Grupo Aval sets size at benchmark for five-year dollar notes

By Christine Van Dusen

Atlanta, Jan. 24 - Colombia's Grupo Aval Ltd. has set the size at benchmark and the tenor at five years for its planned issue of dollar-denominated notes, a market source said.

Goldman Sachs, JPMorgan and Corficolombiana are the bookrunners for the Rule 144A and Regulation S deal, which is expected to price this week.

Proceeds will be used for general corporate purposes, which may include acquisitions and prepaying outstanding debt.

The issuer is a Cayman Islands subsidiary of Grupo Aval Acciones y Valores SA, a banking group based in Bogota, Colombia.

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