CAF Returns with CHF Bond

CAF Returns with CHF Bond

Venezuela Europe

Corporacion Andina de Fomento (CAF) has raised CHF250m ($265m) in new 7-year bonds in Switzerland, according to sources following the process. The AA minus/Aa3/A+ Venezuela-based development bank priced the 2020 at 99.621 with a 1.500% coupon to yield 1.557%, or mid-swaps plus 50bp. Proceeds will be used to make an August 13 redemption of CAF’s 5.0% CHF200m 2013 bond, the lender’s first-ever bond in the Swiss Franc market. Credit Suisse managed. CAF has issued CHF600m in the Swiss market this ye

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