Simpson Thacher represented Initial Purchasers in the offering. Grupo Aval Limited issued an offering of $1 billion aggregate principal amount of 4.375% Senior Notes due 2030, 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. [...]