Banco Davivienda7 October 2014
Banco Davivienda, Colombia’s third largest bank, was making its debut on the international market as a bank issuing international bonds— a $500 million proposition to be carried out on the Luxembourg stock exchange.
For the due diligence phase of the international bond offering, the Banco Davivienda team had to make sure important accounting and financial documents were readily available and accessible to banks, investment banks and legal teams across the globe. The company would be organizing previously-unpublished financial data through an online data room. The data had to be highly secure and easily accessible for examination, across time zones. The project required an enterprise-grade, secure VDR that the international team could use with confidence.
Since this was Banco Davivienda’s debut on the international bond market, a smoothly-run due diligence phase was important. The process could have been frustrated by various factors, including leaks of sensitive transactional information, lack of access to financial data, or difficulty in locating the latest version of a document. The only viable solution was a VDR that had robust security, and would allow Banco Davivienda to properly index and notify users whenever updates to document uploads occurred.
The Banco Davivienda team found that Intralinks was an industry-trusted, enterprise-grade VDR solution that had a reputation for robust security features, and allowed legal teams to access files in their native format such as Excel. Intralinks also provided multi-lingual support. Aside from saving the company on the costs and logistical hassles of mailing hard copies of data, Intralinks provided another benefit: administrators could update documents automatically by file or entire folder, without “version confusion” among the many legal teams.
The Intralinks platform helped Banco Davivienda’s first international bond issue run smoothly. (In fact, the offering received six times more domestic and international investors than anticipated.) Teams were able to access PDFs and Excel files for reading in their native format in order to verify certain calculations throughout the due diligence phase,. To stay on top of the process, the Banco Davivienda team was also able to upload and revise documents as updates were available, 24/7, without replacing previous documents or creating confusion. Throughout, IntraLinks’ 360-degree document-level permissioning provided the team complete control over who accessed which information—and when.
Intralinks provided Banco Davivienda with a return on investment. It enabled the bank to move to the next level of international bond issuance by hosting an efficient, secure due diligence phase. With the Intralinks platform, partners beyond the firewall accessed important deal documents across time zone, 24/7, while providing total security and control against leaks or unauthorized access. Organizing, distributing and updating large volumes on the fly was made easy with Intralinks; there were no restrictions to file size limit, and the platform automatically ensured revised documents are properly indexed and versioned.
Much like the bond issue with which Banco Davivienda made its international debut, Intralinks exceeded expectation several times over.