CAF Returns To Venezuela

Andean Development Corporation (CAF), the Caracas-based regional multilateral financial institution, has followed up its local-currency issue in Venezuela last year with a second offering of the five-year paper. The Corporation sold $50 million worth (107.5 billion bolivares) of bolivar-denominated bonds via Citibank on Thursday. Last June CAF issued $100 million worth of local-currency bonds in Venezuela, the first time such paper had been issued by a multilateral in the country since the 1970s.