Tuesday, July 23, 2024

CAF carries out the largest bond issuance in its history

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CAF – the Development Bank of Latin America and the Caribbean – has achieved the largest offering in its history, with a record size of US$1,750 million in bonds with a maturity of 3.5 years and a coupon of 6%. This issue also achieved the highest demand in CAF’s 30 years of capital markets experience, at more than US$3.4 billion.

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In the midst of an international market characterized by high volatility due to economic and geopolitical uncertainty, approximately 120 investors, including fund managers, central banks, institutional investors and others from the United States, Europe and the Middle East, participated in the issuance. Asia and Africa. The deposit banks were Bank of America Securities, Daiwa Capital Markets, Goldman Sachs International, and HSBC.

(Read: CAF presents Economic and Development Report 2023: This is recommended).

“We continue to exceed our expectations with a new record bond issuance in terms of amount and demand, demonstrating investor confidence in the management we have done at CAF to be America’s green, sustainable and inclusive growth bank.” Latin America and the Caribbean. This is also good news for the region as it will allow us to finance projects and initiatives required to improve the quality of life of residents and enhance competitiveness on favorable terms.” This was stated by Sergio Díaz Granados, CEO of Confederation of African Football.

Currently, CAF has the best credit rating level in its history with rating agencies Fitch, S&P Global, Moody’s and JCR. So far in 2023, long-term resource raising amounts to US$6.25 billion across more than 40 bond issues in 15 different currencies, with a larger presence in the US and European markets.

See also  Angola enjoys positive trade balance in first quarter of the year

(See also: CAF will support coral reef restoration initiatives.)

For more than three decades, CAF has been implementing a strategy to diversify its funding sources, through a continuous presence in global capital markets, which has placed it in a distinguished position at the international level. The multilateral organization works to promote sustainable development and regional integration, through the effective mobilization of resources to provide multiple financial services in a timely manner, with high added value, For clients from the public and private sectors in participating countries.


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