Davivienda To Issue bonds

One of Colombia’s largest banks in terms of assets, Banco Davivienda, plans to sell 400bn ($203m) in ordinary bonds following approval by the bank’s board, Davivienda told the securities regulator Wednesday. Davivienda will use the proceeds of the sale for working capital, says the company. Last October Davivienda acquired state-owned Bancafe from the government at auction for $927m.