Davivienda Lines Up Local RMBS

Colombia’s Banco Davivienda is preparing to sell up to COP450bn in RMBS Thursday, its second deal from a COP1trn program. Terms remain to be set but the mortgage lender can go with up to 5 different fixed and floating-rate tranches with maturities ranging from 1.5-10.0 years, a bank official says. Proceeds from the AAA sale will go to working capital and other general purposes. Davivalores, the bank’s own brokerage unit, is managing the sale. In January, Davivienda placed COP550bn across 6 tranches ranging from 1-10 years.