Debut bond from CDFI draws heavy demand

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By Max Adams
31 Jul 2019

An inaugural bond issuance from a community development financial institution (CDFI) was heavily bid by investors, with order books reaching 10 times the $100m on offer.

The Low Income Investment Fund (LIIF) announced the completion of the debut on Wednesday. The offering was split into a $25m seven year and $75m 10 year bond. S&P Global Ratings assigned an A- rating to the deal.

Morgan Stanley acted as lead manager, with JP Morgan ...

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