News & Events

The Firm represented Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, as initial purchasers, in connection with an offering of $1 billion aggregate principal amount of 4.375% Senior Notes due 2030 issued by Grupo Aval Limited and guaranteed by Grupo Aval Acciones y Valores S.A. (“Grupo Aval”). The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933.

Grupo Aval is the largest banking group in Colombia based on total assets as of December 31, 2018 and is a leading banking group in Central America. Grupo Aval’s operations in Colombia include four commercial banks (Banco de Bogotá S.A., Banco de Occidente S.A., Banco Popular S.A. and Banco Comercial AV Villas S.A.), the largest merchant bank (Corporación Financiera Colombiana S.A.) and the largest private pension and severance fund manager (Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir), as well as a leading bank in Central America (BAC Credomatic Inc.).

The Simpson Thacher team included Jaime Mercado, Karen McClendon, Antonio Ribichini and Luis Miguel Posadas.