Davivienda Unveils Bond Terms

Banco Davivienda is expected to sell COP300bn ($155m) in Colombia’s local bond market today, with the ability to upsize to COP400bn, according to offering documents. The bank can choose from a 2-year IBR-linked tranche with a maximum interest rate of IBR+2.05%, and a 7-year IPC-linked tranche with a maximum interest rate of IPC+4.35%. The bank’s Davivalores arm is managing, at the head of a group of banks. The issuer is to be followed Wednesday by electricity generator and distributor Celsia.