Davivienda Increases Bond Program

Banco Davivienda’s board has approved an increase of its bond issuance program to up to COP6.0trn ($3.1bn), the Colombian bank says in a filing. The documents modify a previous program of COP3.0trn. Davivienda has three years to use the funds, and may issue ordinary or subordinated bonds. The bank last issued in the domestic market in February, raising COP500bn.