Banco Davivienda SA issued 700.00 billion Colombian pesos in three series of bonds through a Dutch auction on Sept. 26, with demand for the bonds reaching about 1.357 trillion pesos.
The Bogotá-based bank offered a 48-month series F bond worth 290.93 billion pesos and a fixed rate of 5.75%. Demand for the series reached about 508.93 billion pesos.
An 84-month series F bond worth 289.81 billion pesos was also offered, with a 6.18% annual rate. Demand for the notes was at 588.61 billion pesos.
The bank also offered a 144-month series C bond worth 119.27 billion pesos, and a rate of 2.73% above the benchmark IPC rate. The series yielded a demand of up to 259.20 billion pesos.
Banco Davivienda will use the proceeds from the offerings to finance working capital needs.
As of Sept. 26, US$1 was equivalent to 3,441.80 Colombian pesos.
