May 20, 2014 / 5:00 PM / in 4 years

Colombia's Davivienda to issue $180 mln in bonds overseas

BOGOTA, May 20 (Reuters) - Colombia’s third-largest bank, Davivienda, will issue $180 million in subordinated bonds on the international market in the second half of the year, the company’s president told Reuters on Tuesday.

The issue replaces another series of similar value which expired in January, Davivienda president Efrain Forero said. The bank also will issue bonds locally.

“We will keep issuing to anchor operations we already have underway, as much in the large growth in mortgages as in our commercial and business portfolios,” Forero said on the sidelines of a conference.

On Thursday the bank issued 600 billion pesos ($312 million) worth of bonds on the domestic market after receiving requests for more than double that.

Davivienda, controlled by the Colombian conglomerate Grupo Bolivar, is one of the most prolific issuers on the local market and in recent years has been expanding operations across the region, especially in Central America.

1,921 pesos = $1 Reporting by Carlos Vargas Writing by Nelson Bocanegra and Julia Symmes Cobb; Editing by James Dalgleish

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