Cabei Readies Taiwanese Issue

Cabei plans to launch the sale of TWD5bn ($159m) in bonds in the Taiwanese market in the first or second week of September. A 5-year tenor would be the most efficient, Jose Felix Magana, head of Cabei’s treasury tells LatinFinance, but the multilateral is also seeing demand for 7-year paper and will soon decide between the two maturities. “In these times, having a global platform has paid off,” Magana says of being able to tap a still liquid domestic market when others are difficult to access. The sale, to be Cabei’s fifth in Taiwan, will be mostly marketed to local institutional investors. The bank has 20% of its liabilities in Asia, having also issued in Thailand, Hong Kong, Singapore and Japan. Cabei plans to sell about $75m in local currency denominated bonds in Costa Rica, Honduras and El Salvador before the end of the year, Magana says.