![CAF opens Venezuelan bond market for multilaterals CAF opens Venezuelan bond market for multilaterals](/media/29557/fotoemisiontituloenvenezuel_ing.jpg)
CAF opens Venezuelan bond market for multilaterals
The placement for 215 billion bolivars on the Venezuelan market was issued through Citibank Mercado de Capitales, C.A. (CITIMERCA), Asesora de Inversión y Casa de Bolsa.
CAF President & CEO Enrique García said that the institution that he represents “is very committed to the development of the capital markets of the region, and this joint operation with CITIMERCA is a great contribution in this respect." The placement was part of a two-year program for 450 billion bolivars approved by CAF. García thanked the Ministry of Finance and the National Securities Commission (CNV) for their cooperation which made the issue possible.
The president of Citibank Venezuela and of CITIMERCA, Francisco Aristeguieta, thanked CAF for placing its confidence in his financial institution as structuring and placement agent. "This is a pioneering operation in this country and is in line with the Citibank premise of contributing to the development and strengthening of the markets where we are present," he said.According to Aristeguieta, the existence of a new regulatory framework for multilateral issues in Venezuela offers excellent conditions for institutions to issue debt in the country, generating very high quality assets for the financial system, particularly in the current conditions of high liquidity in local currency.
The operation is the result of several months’ work by a team of professionals from CAF, CITIMERCA and legal experts, who worked jointly with representatives of CNV to create an instrument that reflects the standards under which the multilateral organizations operate in the international market.CAF's more recent content
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