Venezuela

South American development bank Corporación Andina de Fomento (CAF) said that 61% of orders for its inaugural green bond in public markets, issued on Wednesday, had come from ESG and green portfolios as the issuer raised €750m of euros.

South American development bank CAF (Corporación Andina de Fomento) has raised $140m of 10 year debt via a private placement that will be used to fund education projects, GlobalCapital understands.

Corporación Andina de Fomento (CAF) will sell its first public green bond in the second half of this year in euros, the development bank’s head of funding said at Euromoney's Global Borrowers and Investors Forum in London on Tuesday.

Venezuelan government-owned oil giant Petróleos de Venezuela (PDVSA) is likely to make a $71m interest payment on its 2020 notes, the only external bond on which the country has not yet defaulted.

Emerging market bankers and investors have been reacting to this week's attempt by the Venezuelan opposition to unseat president Nicolás Maduro, with some worrying that Russia's support for the government once again raises the risk of sanctions against that country.

A coup attempt in Venezuela has rekindled hopes among investors that president Nicolás Maduro will cede control to the opposition regime. The development drew the spotlight away from Argentina’s spiralling currency.

Corporación Andina de Fomento (CAF) laminated its SSA membership card this week as it tightened pricing while equalling its largest ever dollar benchmark for size — despite political turmoil in one of its shareholders.

US sanctions have brought secondary markets in Venezuelan sovereign bonds and those of state oil company PDVSA to a standstill, leaving investors unable to trade. As a result, the bonds may be withdrawn from the JP Morgan Emerging Markets Bond Index.

Investors are waiting feverishly for regime change in Venezuela. With US sanctions having stopped trading in the sovereign bonds and those of state oil company PDVSA, investors are unable to alter their exposure to the country.

Corporación Andina de Fomento (CAF) may be playing it safe with its first dollar benchmark of the year, according to investors, amid uncertainty over the political future of Venezuela — one of its shareholders and the country in which it is headquartered.

Corporación Andina de Fomento (CAF) will break the silence of the public sector dollar market this week, after circulating initial price thoughts on Tuesday for its first benchmark of the year in the currency.

Investor hopes that the US Office of Foreign Assets Control (OFAC) would retract a ban on US persons buying PDVSA debt were dashed on Friday, when the department made the situation worse for bondholders by adding Venezuelan sovereign bonds to the trading ban.