Banco Davivienda S.A.’s $485 Million Notes Offering


Gómez-Pinzón Zuleta, Cleary Gottlieb Steen & Hamilton, Philippi, Prietocarrizosa Ferrero DU & Uría and Shearman & Sterling advised on the transaction

Banco Davivienda S.A. finalized 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.

Gómez-Pinzón Zuleta advised Banco Davivienda S.A. with Ricardo Fandiño de la Calle, Adriana Moreno Márquez, Tonia Lucía Orozco Araujo and Valentina Carrillo Bustamante.

Cleary Gottlieb Steen & Hamilton advised Banco Davivienda S.A. with Adam Brenneman (Picture), Erika Nijenhuis, Sebastián Villaveces, Fernando Martínez, Julian Cardona and Martijn Simonis.

Philippi, Prietocarrizosa Ferrero DU & Uría advised Merrill Lynch Pierce, Fenner & Smith and Citigroup Global Markets with Juan Fernando Gaviria, Carolina Duque, Katherine Rueda, Héctor Falla, María José Ariza, Felipe Sanclemente, Marilia Salim, Stefanía Olmos, Ana María Ramírez and Daniela Duque.

In US, Shearman & Sterling advised the joint bookrunning managers with Antonia E. Stolper, Grissel Mercado, Jeffrey Tate, Scott Lucas, Francisco Cebada, Eric Grosshandler, Jake Glazeski and Blanca García Leal.

Involved fees earner: Ricardo Fandiño-De la Calle – Gómez-Pinzón Zuleta Abogados; Adriana Moreno Marquéz – Gómez-Pinzón Zuleta Abogados; Tonia Lucia Orozco Araujo – Gómez-Pinzón Zuleta Abogados; Valentina Carrillo Bustamante – Gómez-Pinzón Zuleta Abogados; Juan Fernando Gaviria – Philippi Prietocarrizosa Ferrero DU & Uría; Carolina Duque Velásquez – Philippi Prietocarrizosa Ferrero DU & Uría; Katherine Rueda Chavez – Philippi Prietocarrizosa Ferrero DU & Uría; María José Ariza Franco – Philippi Prietocarrizosa Ferrero DU & Uría; Felipe Sanclemente Alzate – Philippi Prietocarrizosa Ferrero DU & Uría; Daniela María Duque Caro – Philippi Prietocarrizosa Ferrero DU & Uría; Héctor Andrés Falla Cubillos – Philippi Prietocarrizosa Ferrero DU & Uría; Antonia Stolper – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Scott Lucas – Shearman & Sterling; Francisco Cebada – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Adam Brenneman – Cleary Gottlieb Steen & Hamilton; Sebastian Villaveces – Cleary Gottlieb Steen & Hamilton; Fernando Martinez – Cleary Gottlieb Steen & Hamilton; Erika Nijenhuis – Cleary Gottlieb Steen & Hamilton; Julian Cardona – Cleary Gottlieb Steen & Hamilton;

Law Firms: Gómez-Pinzón Zuleta Abogados; Philippi Prietocarrizosa Ferrero DU & Uría; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Citigroup Global Markets Ltd; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Banco Davivienda S.A.;

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Author: Ambrogio Visconti.