Banco Davivienda in $500 Million Tier 1 Notes Offering

April 22, 2021

Cleary Gottlieb represented Banco Davivienda S.A. (Banco Davivienda) in its $500 million 6.65% perpetual non-cumulative additional Tier 1 junior subordinated notes offering.

Citigroup, BofA Securities, and J.P. Morgan acted as initial purchasers. The transaction priced on April 15, 2021, and closed on April 22, 2021.

This transaction is the first additional Tier 1 bond issuance in Colombia.

Banco Davivienda is a bank incorporated under the laws of Colombia as a corporation and licensed to operate as a commercial bank. Retail and corporate banking represent the majority of its business operations. Banco Davivienda also provides banking services in Central America through its subsidiaries in Panama, El Salvador, Costa Rica, and Honduras, and in the United States through its branch in Miami.