CAF conquers Swiss franc size mountain

Corporación Andina de Fomento, like Norges Statsbaner last week, broke through the recent Swiss franc market trend of tiny volumes this week when the Latin American supranational issued a Sfr250m five year bond on Monday. Bookrunner Credit Suisse priced the deal at 146bp over swaps, 1bp inside the launch spread, and slightly inside CAF’s dollar curve.