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COLOMBIA | |
Best Investment Bank: BofA Securities | ||
BofA Securities takes the investment bank award thanks to a rounded portfolio of capital markets and advisory work – though there was noticeable strength from BTG Pactual in advisory and Citi once again dominated debt products.
Nevertheless, BofA ran Citi close in second place and played a pivotal role in some of the most noteworthy transactions during the qualification period.
The team – led by Ricardo De Bedout, head of investment banking in the Andean region – also secured the largest share of underwriting fees, according to Dealogic.
The bank was left-lead bookrunner on the Nasdaq-listed $130 million IPO for LatAmGrowth special purpose acquisition company (Spac) in January 2022 – executed successfully amid challenging market conditions.
BofA was also the exclusive financial adviser to Grupo Orbis on the sale of its outstanding shares to Akzo Nobel, which was one of the largest acquisitions of a publicly traded company in Colombia in recent years.
The bank was exclusive adviser to Grupo Sura with regards to the multiple unsolicited tender offers launched for the company – an interesting example of a defence advisory assignment for one of the country’s largest conglomerates.
And it chalked up an impressive array of DCM mandates, including debt issuances for ISA and Gran Colombia Gold (both inaugural international issuances), as well as for the Republic of Colombia, GeoPark, Davivienda and Millicom.