Davivienda preps dollar perps

Davivienda preps dollar perps

Corporate & Sovereign Strategy Bonds Debt Fixed Income Colombia Capital Markets

Colombian lender Banco Davivienda began making calls to investors on Monday, looking to make a benchmark-sized transaction of perpetual notes in US dollars, a source involved in the deal said. The bank has hired Citi, Bank of America and JPMorgan to lead the sale of the perpetual non-call 10 Tier 1 bonds, the source said. Moody's assigned the proposed bonds a B1 rating, three notches below Davivienda's Ba1 baseline credit assessment due to the risk of a full or partial write-down in case the ban

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