Davivienda Places Sub Notes

Colombian financial institution has sold COP250bn in local subordinated bonds in 2 tranches. A COP112bn 7-year piece pays IPC plus 5.25% and a COP138bn 10-year piece pays UVR plus 5.50%, says John Fredy Linares, head of financial management at the institution. He adds that total demand reached COP400bn. Proceeds of the issue, which Davivienda is managing, will be used for working capital.