Honduras

Japanese life insurer buys entire amount of deal designed to fund athlete education and facilities

Deal is the first in Swiss francs from Central America since August

Bond markets were in better shape this week but there was no eruption of LatAm bond deals

Danery Alvarado will leave development bank on April 15

Congress allows new government to issue extra $2bn

The Central American Bank for Economic Integration (Cabei) is working to develop a regional bond market that it hopes will broaden the investor base for Central America’s sovereigns, some of which have patchy access to global markets. Cabei’s CFO told GlobalCapital that the supranational will provide seed capital for a fund to participate in the market, which he believes could eventually attract foreign buyers.

Latin America DCM bankers are gearing up for a calmer period in primary bond markets as first quarter earnings blackout periods near, after two companies jumped on an improving tone at the end of last week to sell rare Friday deals.

Inversiones Atlántida (Invatlan), the Central American financial services group that owns the largest bank in Honduras, is looking to raise $300m of senior secured bonds, it told fixed income investors this week.

A highly diversified order book allowed the Central American Bank for Economic Integration (Cabei) to tighten pricing on its first ever benchmark social bond on Wednesday, with the multilateral lender raising $500m of five-year money.

The Central American Bank for Economic Integration (Cabei) is holding investor calls until Tuesday as it looks to sell a debut social bond in dollars.

The Central American Bank for Economic Integration (Cabei) said it became the first multilateral lender to sell a Covid-19 “vaccine bond” after raising $50m of five-year money to support immunisation initiatives when Covid-19 vaccine becomes available.

Central American sovereign Honduras marked a new milestone for EM bond markets in the coronavirus era this week as it became the lowest-rated issuer from Latin America to issue during the crisis. Oliver West reports.

Central American sovereign Honduras found strong demand on its return to bond markets as investors and analysts said the issue ticked all the boxes for a yield-hungry investor base.

Honduras is planning to price a new 10-year bond on Wednesday after tightening guidance significantly as EM debt caught the US Federal Reserve-driven rally in fixed income markets.

Bond investors say that Honduras’s established relationship with the IMF should leave it in good stead as it looks to become the lowest rated borrower from Latin America to issue in the coronavirus era.

The Central American Bank for Economic Integration (Cabei) raised $530m-equivalent of debt in Taiwan and Switzerland this week to complete the bulk of its bond financing for the year, leaving the lender to focus on bilateral funding and further investor relations for the rest of the year.

Central American Bank of Economic Integration (Cabei) turned to the Taiwanese market on Wednesday, raising $375m just weeks after a $750m bond sale in the US.

The Central American Bank for Economic Integration (Cabei) is set to price a senior unsecured Formosa bond on Wednesday after tightening price discussions.

Corporación Andina de Fomento (CAF), the South American development bank, could follow fellow Lat Am multilateral Cabei into bond markets after mandating for an SEC-registered US dollar deal.

Central American development bank Cabei announced its return to US bond markets in the midst of the Covid-19 crisis with its largest ever bond deal, as a strong bid from Asian buyers helped the lender to raise $750m inside regional comps.

Central American development bank Cabei is set to price its first 144A bond in nearly eight years on Wednesday after setting initial price thoughts.

Central American development bank Cabei will hold investor calls this week as it prepares to bring its first 144A bond in nearly eight years.

The Central American Bank for Economic Integration (Cabei) completed a capitalisation on Monday, increasing its authorised capital from $5bn to $7bn.

Bond market participants in Latin America are gradually accepting that Zoom video calls will become a permanent feature of their job. However, in this particularly travel-intensive segment of capital markets, when it comes to selling a product, neither issuers nor bankers appear willing to cut down visits to clients in a region where personal trust is arguably more important than anywhere else.

Development lender the Central American Bank for Economic Integration (Cabei) raised $170m-equivalent of three year money on Tuesday after heading to the Mexican bond market, where investors see the bank as a haven credit, the bank’s CFO told GlobalCapital.

Central American development bank Cabei sold its first green bond in the public markets on Thursday, increasing the size of its five year floating rate note from $300m to $375m after attracting nearly $1bn of orders.

The Central American Bank for Economic Integration (Cabei) has hired two banks as green structuring advisers and bookrunners as it plans its first dollar benchmark bond for seven years and first green bond in dollars.

Central American development bank Cabei will look to issue its first public green bond in around two weeks as it attempts to enter the universe of true SSA borrowers with a first dollar benchmark in seven years.

Moody’s upgraded the Central American Bank for Economic Integration (Cabei) from A1 to Aa3 on Wednesday, paving the way for the multilateral lender to approach traditional dollar SSA investors.

Cabei (Central American Bank for Economic Integration) has issued a request for proposal (RFP) for a potential first dollar benchmark since 2012, Latin American bond market participants told GlobalCapital.

Central American multilateral Cabei (Central American Bank for Economic Integration) has issued a request for proposal (RFP) for a potential first dollar benchmark since 2012, Latin American bond market participants told GlobalCapital.

Central American development bank Cabei will return to US bond markets for the first time since 2012 after a better than expected two notch upgrade from S&P left it keen to enter the realm of true SSAs, said its CFO. But the issuer will be doing so without Fitch, after deciding the rating agency’s methodology did not reflect its new business model.

Central American development bank Cabei (Central American Bank of Economic Integration) sold $100m of dollar bonds to Japanese insurance companies earlier this month to complete its financing needs for 2018, the lender said.

The Central American renewable energy subsidiary of multinational conglomerate Corporación Multi Inversiones (CMI) will begin investor meetings on Friday as it seeks to become the first debut issuer from Latin America since May.

Central American multilateral Cabei (Central American Bank of Economic Integration, otherwise known as BCIE for its Spanish name) has appointed a new executive president who will begin his role on December 1.

Honduran lender Banco Atlántida will meet bond investors ahead of a proposed green bond as Latin American primary markets slowly creak into life.

Standard & Poor’s has upgraded Central American development bank Cabei to A+ and left it on positive outlook, as the lender edges closer to its much-vaunted double A credit rating — a level at which it may return to the dollar benchmark market.

Central America development bank Cabei (BCIE in Spanish) has hired a new head of debt capital markets to lead its bond issuance programme.

A new dollar benchmark could be on the cards for multilateral lender Central American Bank for Economic Integration (Cabei), the bank’s CFO told GlobalCapital, as the issuer looks to increase its appeal to traditional SSA investors by gaining double-A ratings.

A new dollar benchmark could be on the cards for multilateral lender Central American Bank for Economic Integration (Cabei), the bank’s CFO told GlobalCapital on Wednesday, as the issuer looks to increase its appeal to traditional SSA investors by gaining double-A ratings.

Central American development bank Cabei’s acting head of capital markets is moving to Washington, DC to become lead funding officer at the Inter-American Investment Corporation (IIC) in the treasury division.

Inversiones Atlántida, the 87% owners of Honduras’ largest lender Banco Atlántida, sold $150m of five year non-call three notes on Friday well inside where a better rated Lat Am financial name had sold bonds the day before.

Honduras financial holding company Inversiones Atlántida is on the road for the second time in a year, with a potential rating improvement on the way after S&P upgraded the Central American sovereign.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.

Central American development bank Cabei re-opened its Australian dollar bonds for a further A$65m ($50m) on Thursday in its second outing in the Kangaroo market.

Central American development bank Cabei is looking to add at least A$25m to its existing Australian dollar bonds due 2026, and may consider a new five year this week.

Central American development bank Cabei began its funding for 2017 by issuing more than $100m-equivalent in niche currencies, the bank’s head of capital and financial markets told GlobalCapital.