Banco Davivienda’s Offering of Over $500 Million

Cleary Gottlieb represented Banco Davivienda S.A. (Davivienda) in its Rule 144A/Reg S offering of COP 1.5 trillion (equivalent to over $500 million) principal amount 7.500 percent senior notes due 2022.

The transaction priced on October 19, 2017, and closed on October 24, 2017. The notes are expected to be listed on the Luxembourg Stock Exchange.

Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint bookrunning managers.

Davivienda is the third-largest financial institution in Colombia in terms of assets and is one of Colombia’s leading retail banks providing a wide variety of banking and credit services to individuals, families and businesses, including corporations, small- and medium-sized enterprises, and government entities. Davivienda also has operations in Panama, Honduras, Costa Rica, El Salvador and Miami.

Davivienda’s stock has been listed on the Colombian Stock Exchange since 2010.