First Local Currency Issue For Cabei

The Central American Bank for Economic Integration (Cabei) has issued its first local currency-denominated bonds in a Latin American market, with a 460 billion Colombian peso offering ($203 million). The bonds, which mature 15 September 2015 were issued with an interest rate equivalent to inflation plus 2.3%. The multilateral issuer, rated A2 by Moody’s, has been looking to issue in the region to take advantage of the favorable market conditions and good investor appetite.