Cabei Returns to USD Market after Three Year Hiatus

Cabei Returns to USD Market after Three Year Hiatus

Bonds Structured Finance Mexico Central America Honduras

Central American development bank Cabei tapped both the international and local markets Thursday to raise $367m in one fell swoop. The borrower returned to the dollar markets for the first time since 2009, tempted by what remain ultra-low yields and the strong performance of recent deals. Cabei priced a $250m 5-year at 99.104 with a 3.875% coupon to yield 4.075%, at the tight end of 4.125% area guidance (+/-5bp). Capped at $250m, the deal saw largely buy-and-hold accounts participate, driving de

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