Banco de Bogotá, Colombia’s oldest financial institution, instructed Davis Polk in the reopening of $500 million aggregate principal amount of its 6.250% subordinated notes due 2026, pursuant to Rule 144A and Regulation S under the Securities Act of 1933. Simpson Thacher advised the initial purchasers.
Banco de Bogotá is a subsidiary of Grupo Aval Acciones y Valores, the largest banking group in Colombia. It also owns the largest pension and severance fund administrator and BAC Credomatic, a leading Central American banking group. Banco de Bogotá is the second-largest bank in the country.
Partners Nicholas A. Kronfeld and Gregory S. Rowland led the Davis Polk team in London and New York which acted for the Banco de Bogotá.
Credit Suisse, HSBC and JP Morgan, the initial purchasers of the offering, instructed a team at Simpson Thacher led by partner Jaime Mercado. Earlier in 2016, the firm represented these initial purchasers in Banco de Bogota’s original issue of $600 million of its 6.25% Subordinated Notes due 2026.