Corporación Andina de Fomento (CAF) may be 40 this year, but it shows no signs of slowing.
multilateral in May raised $74 million from what it calls the
first ever retail-only placement in the Japanese market by a
LatAm issuer. It is also the first sub-AAA rated name to tap
funding is 65% in US dollars, but there is an increasing
percentage done in other currencies, including
Bolivares, Colombian pesos, euros, sterling,
Swiss Francs, Mexican pesos and Peruvian
Lending is mostly done floating rate denominated in dollars,
so funding is swapped on that basis. CAF has 55% of its debt in
bonds, 25% in time deposits, 12% in commercial paper...
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