LatAm dim sum feast continues with Cabei

27 Mar 2013

Development bank Cabei became the first borrower from Latin America to rely entirely on Asian investors for an offshore renminbi bond on Monday, when it raised Rmb500m ($79.7m) and opened up what funding officials said could become a regular source of funding.

Cabei, which has counted Taiwan as a shareholder since 1992 and is also incorporating South Korea as a member, priced its deal at the tight end of 3.20%-3.25% guidance after attracting a book of Rmb1.1bn.

Standard Chartered, which managed the deal for the A2/A/A rated lender, generated orders from ...

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