Banco Davivienda in $500 Million Debt Offering

July 9, 2012

Cleary Gottlieb represented Banco Davivienda S.A. in its Rule 144A/Reg S offering of $500 million principal amount 5.875% Subordinated Notes due 2022. The Notes are expected to be listed on the Luxembourg Stock Exchange. This offering, which closed on July 9, was the first offering in the international capital markets for Davivienda, which received investment grade ratings from Moody’s and Fitch.

Davivienda is one of the leading financial institutions in Colombia, being the third largest bank in terms of assets, the largest lender of consumer loans and the largest lender of credit card loans. Davivienda’s stock has been listed in the Colombian Stock Exchange since 2010. Credit Suisse and J.P. Morgan acted as joint bookrunners.