Davivienda MTSF

completed

Banco Davivienda S.A. (Davivienda or the bank) is a longstanding IFC client and the fourth largest financial institution in Colombia, with approximately $3 billion of assets and $390 million of equity as of August 2005. Originally specialized in mortgage lending, Davivienda has since diversified its product offering to become a full service commercial bank in Colombia. Having consistently delivered strong financial results, Davivienda has currently a local long-term credit rating of “AAA” by Fitch Ratings. The Bank is seeking to raise subordinated and medium-term senior debt to strengthen its balance sheet, diversify funding sources, maintain its strong liquidity position and improve the Bank’s capitalization levels. The project consists of a financing package of up to $120 million to support the expansion and consolidation of the Bank’s operations in Colombia. The project will help Davivienda continue to expand its retail business while maintaining a strong presence in the mortgage industry.