Davis Polk advised Grupo Aval Acciones y Valores S.A. in connection with its global offering of $1 billion aggregate principal amount of 4.375% senior notes due 2030. The notes were issued by Grupo Aval's wholly owned subsidiary, Grupo Aval Limited, and guaranteed by Grupo Aval and were offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933.
Grupo Aval is Colombia's largest banking group based on total assets. Grupo Aval provides a comprehensive range of financial services and products from traditional banking services, such as making loans and taking deposits, to pension and severance fund management. Through its BAC Credomatic operations, Grupo Aval is also the largest banking group in Central America based on total assets.
The Davis Polk corporate team included partner Nicholas A. Kronfeld and associates Andrew J. Terjesen and Concepción Olivera. Partner Patrick E. Sigmon and associate Sunny Kim provided tax advice. Counsel Sarah E. Kim and associate J. Taylor Arabian provided 1940 act advice. All members of the Davis Polk team are based in the New York office.