May 22, 2014
CAF, the development bank of Latin America, returned to the European market on Wednesday after a three year absence, selling a 1.875% €750m ($1bn) 2021 bond. The deal was heard to be more than three times subscribed at the final size — after the borrower increased the deal size by 50%.
The deal was priced at 75bp over mid-swaps — equal to 1.917% yield — down from initial price thoughts of 95bp over, and guidance of 85bp to 90bp. Bookrunners BBVA, Credit Agricole, Credit Suisse, Deutsche Bank a
Debt Capital Markets: Multilateral lender returns to European market after three-year absence