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SubscribeCuatrecasas has advised Bank of America, JPMorgan, and Scotia Capital as initial purchasers in a successful $500 million international bond placement by Banco Davivienda, in a transaction that reinforces the bank's financial strength and confidence in the Latin American market.
These bonds, which were three times oversubscribed, have a ten-year maturity and can be prepaid starting five years after the date of disbursement by investors.
The transaction is part of Davivienda's financial strategy, and the funds raised are expected to be considered additional equity for the bank, strengthening its capital structure and improving its overall solvency. In the transaction, Bank of America, JPMorgan, and Scotia Capital also acted as global coordinators and joint bookrunners.
"This bond issuance reflects the confidence that Banco Davivienda inspires in international investors, amid a continuing challenging environment for capital markets around the world. We congratulate our clients for contributing to the bank's corporate objectives, supporting its growth plans, and strengthening the Colombian financial system," said Manuel Quinche, managing partner of the Cuatrecasas Bogotá office.
The Cuatrecasas advisory team for the transaction was led by partner Manuel Quinche, along with lawyers Valentina Bocanegra, Angie Gómez, and Camila Orrego (Finance); Natalia Fernández (Competition); Daniel Albornoz, (Labor); Alberto Zuleta, Juan Esteban Castañeda, and María Fernanda Díaz (Litigation and Arbitration); Mateo Benjumea and Alejandro Manrique (Corporate); and Jaime Vargas and José Manuel Jaramillo (Tax).Don’t miss our content
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