FMO prints Boliviano debut to develop frontier markets

Frontier2 adobe 230x150
By Frank Jackman
19 Sep 2019

The Netherlands Development Finance Company (FMO) sold the first offshore Bolivian boliviano bond last Friday. The currency-linked bond was structured by the Currency Exchange Fund (TCX), of which FMO is a part owner, and is part of a wider push to develop frontier capital markets.

“We wanted to attract interested investors and set a benchmark for the currency cost of funds,” said Othman Boukrami, head of trading at TCX.

“Any investors looking to invest in Bolivia would be interested to see the risk-free cost of funds in bolivianos. Currently they can look at local government bonds, but ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.