Davivienda to issue US$350mn in bonds abroad, moves ahead with ADR registration

- Wednesday, August 17, 2011

Davivienda to issue US$350mn in bonds abroad, moves ahead with ADR registration

Colombia's third largest bank, Davivienda, will issue bonds worth US$350mn on international markets, the bank said in a brief filing with financial services regulator Superfinanciera.

Davivienda also has plans to issue debt on the local market worth 300bn pesos (US$170mn), as market conditions made it postpone this issue to September from August 8.

In a separate regulatory filing, Davivienda said it was moving ahead with its plan for an ADR registration at the New York Stock Exchange. The registration had been slated for 4Q11, but the bank has decided to speed up this process - although it did not indicate when it would occur.

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