Cabei Plots MXP Transaction

The Central American Bank for Economic Integration (Cabei) is looking to sell bonds denominated in Mexican pesos, its treasurer Jose Magana tells LatinFinance. The bank sees current swaps as very attractive, and while it doesn’t need funding in MXP, a transaction would represent an opportunistic trade. Size has yet to be determined, but a 5-year, 7-year or 10-year transaction in floating or fixed-rate bonds is being considered. The well-traveled borrower is considering issuance in a range of currencies and markets this year, as it plans to raise $800m in the markets this year. The bank is also mulling a Taiwanese dollar or offshore renminbi issuance in Taiwan. Last month it raised CNH500m ($80m) in its first-ever offshore renminbi bond deal, pricing at par with a 3.20% coupon.