Cabei seizes window to tighten Formosa yield

Cabei seizes window to tighten Formosa yield

Central America Bonds

The Central American Bank for Economic Integration (Cabei) has returned to the Formosa market with an aggressively-priced deal that took advantage of pent-up demand from Taiwanese investors. Standard Chartered, the sole lead, priced the $167m five-year floating rate note at 100bp over Libor. Cabei pushed investors for a tight price amid a lack of issuance of floaters in the Formosa market – the deal is the first FRN in the format this year. The yield is 50bp inside Cabei’s debut in the

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