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Grupo Aval $600 Million Debut Global Offering
Davis Polk advised Grupo Aval Acciones y Valores S.A. in connection with its debut global offering of $600 million aggregate principal amount of 5.25% senior notes due 2017. The notes were issued by Grupo Aval’s wholly owned finance subsidiary, Grupo Aval Limited, and guaranteed by Grupo Aval. The notes were offered pursuant to Rule 144A and Regulation S under the United States Securities Act of 1933.

Grupo Aval is Colombia’s largest and most profitable banking group. Grupo Aval provides a comprehensive range of financial services and products across the Colombian market, through its four banks, pension and severance fund manager and merchant bank, ranging from traditional banking services, such as loans and deposits, to pension and severance fund management. Through its BAC Credomatic operations, Grupo Aval is also a leading Central American banking group.

The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Yasin Keshvargar, Daniel N. Borlack, Henrique Canarim (only admitted in Brazil) and Marcus Hintze (not yet admitted). Partner Harry Ballan and associate Juelle Gomes provided tax advice. The 1940 Act team included associates Catherine L. Martin and Jake H. Wang (not yet admitted). Inés Velasco was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.