CAF ups dollar benchmark to $750m

Bogota, Colombia, CAF, covid-19, 575, downtown, centro
By Oliver West
16 Sep 2020

Latin American development bank Corporación Andina de Fomento (CAF) will continue to monitor its members’ needs before determining how much funding it has left to raise in 2020, but has covered the majority of its financing needs after increasing the size of a dollar benchmark, priced on Wednesday.

CAF had set initial price thoughts (IPTs) at 135bp over mid-swaps on Monday after initially announcing a new $500m five year trade maturing in September 2025. 

Leads Citi, Daiwa, Goldman Sachs and Nomura had amassed $550m of orders overnight — including $50m from themselves ...

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