Davivienda Widens International Appetite

Colombia’s Banco Davivienda has increased its international bond issuance limit to $500m from $300m, it says. Colombia’s third-largest bank has been well documented as a likely issuer in Q1, though there are no firm details in place. In June of 2012 it saw 6x demand for its debut dollar bond offering, pricing a 5.875% $500m 2022 bond to yield 5.950%. Credit Suisse and JPMorgan managed. It followed in the domestic market in August, raising COP500bn ($275m) in 2022 and 2027 bonds. Davivienda is rated Ba1/BB+.