CAF preps for dollar pricing with rapid book build

Caracas, Venezuela, CAF, LatAm, 575
By Oliver West, Ralph Sinclair
15 Sep 2020

Latin American development bank Corporación Andina de Fomento (CAF) set pricing on Tuesday for a five-year dollar bond, having already gathered enough indications of interest overnight on Monday to cover what had been announced as a $500m deal.

But it didn't take long for order books to exceed this amount once they were opened, with the leads saying at around 10am UK time that they had orders in excess of $800m. 

At this point, the messaging around the deal size was changed to "$500m+".

Leads Citi,

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