Davivienda Preps 10-Year Bond

Colombian financial institution Davivienda will issue 10-year subordinated bonds for COP250bn this month, John Fredy Linares, head of financial management at the institution, tells LatinFinance. He explains that this issue is part of a total of COP1trn the bank plans to issue over time. Subsequent issues will be ordinary bonds with tenors ranging between 18 months and 7 years and pegged to DTF, IBR, IPC or UVR or pay a fixed rate, he explains. Proceeds of the issue, which Davivienda is managing, will be used for working capital.