2004 begins with a $200 million placement

The Andean Development Corporation (CAF) yesterday placed a $200-million issue with investors in the United States and Europe.

The operation, led by Credit Suisse First Boston, was at a three-year term with a floating interest rate of LIBOR plus 0.35%, a very attractive level considering the term.

CAF Executive President Enrique García emphasized the institution´s capacity, as a well-known and recurrent issuer, to benefit from favorable market conditions. The placement also attracted the interest of new types of investors who had not participated in previous CAF issues, given the innovative structure of the operation.

The CAF has become one of the most prestigious issuers in the US, Japanese and European and Latin American markets both at long and short term. With this new issue, the multilateral institution began its financing plan to raise approximately $1 billion this year on bond markets through issues in the United States, Europe and Japan.