Bond issue on U.S. market increased to US$550 million

In its first operation of the year on capital markets, the Andean Development Corporation (CAF) increased its bond issues on the U.S. market to US$550 million, the executive president of this international financial institution, Enrique García, announced today.

García said the operation reaffirms the catalytic role of the Corporation in attracting funds on international markets. The CAF made its first issue on the U.S. market for US$350 million in March 2002. The current reopening of US$200 million has increased the value to US$ 550 million which is the highest by the international lender in this market.

The operation, led by the Goldman Sachs investment bank, attracted the participation of high-quality institutional investors, some of which are new investors for the CAF. The transaction was initially conceived as an issue of US$150 million, but was raised to US$200 million due to market demand.

Thanks to the best risk ratings in Latin America, the multinational lender obtained an interest rate of 6.875% for the issue, one of the most competitive achieved recently in the region.