CAF Joins Dim Sum Club

CAF Joins Dim Sum Club

Bonds Structured Finance Venezuela Asia

Corporacion Andina de Fomento (CAF) is the latest borrower to tap the growing offshore Chinese renminbi (RMB), or Dim Sum, market, selling a CNH600m ($97m) 3-year bond. In becoming the region’s third issuer to sell a publicly placed Dim Sum bond, the bank continues to diversify funding sources outside of its well-established USD, EUR and JPY and CHF curves. The Aa3/ A+/A+ supranational lender priced at par to yield 3.55%, inside of 3.65% initial guidance. Demand hit approximately CNH1.2bn with 3

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