CAF Returns To Euros

CAF Returns To Euros

Bonds Structured Finance

CAF, the Caracas-based Andean multilateral, is out with a five-year euro-denominated bond issue, its first since May 2004. The A1/A/A+ rated trade through Calyon and HSBC is talked at mid-40bps over three-month Euribor. Size is to be decided and expected to be at least EUR200 million. The Reg S deal is under London law and will be listed in the UK. Sales to Italy are accepted. CAF issued EUR150 million in a three-year FRN via BBVA and Deutsche in May 2004 with a 30bp over three-month Euribor cou

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