Colombian Bank Places Local Issue

Colombia’s Banco Davivienda has sold COP550bn ($222.7m) in local bonds. The bank offered COP360bn in floating-rate notes, including 2010 notes paying the DTF rate plus 110bp, 2011 notes at DTF plus 120bp, 2012s at 135bp over DTF, and 2016s at IPC plus 550bp. Davivienda also sold COP67.3bn in 2011 fixed-rate at 10.4% and COP123.4bn in 2019 fixed-rate bonds at 10.4%. Demand reached COP1.26trn, Davivienda says. Davivienda plans to support its lending with proceeds from the sale, rated AAA on a national scale. Correval managed the issue. The bonds are part of a broader program of COP1trn to be sold this year.