CAF Advances Vene Tap

CAF has been approved by Venezuelan regulators for a local bond of up to VEB1bn ($465m), according to the country’s official gazette. There are no specific plans for a local market issue, according to a CAF official. Despite addressing most of its 2009 financing needs with a $1bn 8.125% of 2019 dollar bond late May, the multilateral seeks to support the region’s domestic markets by issuing in local currency. CAF sold PES144m ($50m) in 6.5% of 2014 bonds in Peru’s local market in October and is working on a bond to sell in Uruguay.