CAF To Issue Sol-denominated Bonds

The Andean Development Corporation (CAF), the leading source of financing for the public sector in the Andean region, is planning to issue around $150 million worth (500 million soles) of local-currency bonds via the Lima Stock Exchange. The bonds will have a maturity of between one and 20 years and will be issued with a nominal value of 100 soles per bond. The Caracas-based development bank did not specify the date or provide any further offering details. This will be the third time CAF has issued bonds in Peru. Last July the Corporation issued $150 million of ‘Condor’ bonds, listing them simultaneously on the Lima, Quito, Guayaquil and Luxembourg exchanges. CAF first issued in Peru in 2003 to help broaden investment alternatives in the region, in particular for local institutions. BBVA will act as the bookrunner and arranger of the issue.