CAF Retaps CHF on Reverse Interest

CAF Retaps CHF on Reverse Interest

Andean Venezuela Bonds

Corporacion Andina de Fomento (CAF) took advantage of CHF50m ($54m) in reverse inquiry to raise CHF100m through a reopening of its outstanding 2021 Swiss franc-denominated bonds. The Venezuela-based development bank's reopening represented its first transaction as a pure double-A rated entity and strictly targeted institutional accounts, according to people familiar with the transaction. The bond reopened at 100.360 with a 1.375% coupon to yield 1.326%, or MS+50bp, in line with MS+50bp guidance.

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