Chicago, April 21 – Banco Davivienda SA sold $500 million of 6.65% perpetual Basel III compliant tier 1 bonds (B1//B+), according to a company notice.
The notes were sold at par and are callable after 10 years.
Order books were 3.5 oversubscribed with around $1.77 billion of demand.
Citigroup was the global coordinater and a joint bookrunner. J.P. Morgan and BofA Securities also worked as joint bookrunners.
Corredores Davivienda was a local co-manager.
Proceeds will be used for general purposes and will count as additional tier 1 capital ratios at the bank per local regulation, according to Fitch Ratings.
Davivienda is a lender based in Bogota, Colombia.
| Issuer: | Banco Davivienda SA
|
| Issue: | Perpetual tier 1 bonds
|
| Amount: | $500 million
|
| Maturity: | Perpetual
|
| Bookrunners: | Citigroup, J.P. Morgan and BofA Securities
|
| Co-managers: | Corredores Davivienda
|
| Coupon: | 6.65%
|
| Price: | Par
|
| Yield: | 6.65%
|
| Call features: | Non-call for 10 years
|
| Trade date: | April 15
|
| Ratings: | Moody’s: B1
|
| Fitch: B+
|
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