Cabei Hits up Locals

Central American development bank Cabei has printed two new local bond sales in Costa Rica and the Dominican Republic, respectively, in a continuation of its regionally diversified funding strategy. It sold CRC6bn ($10.6m) in 6-month notes in Costa Rica, paying a rate equal to the Tasa Basica Pasiva. In early December, that rate stood at 7.85%, according to the central bank. The COP740m ($20.5m) Dominican sale offered a 5-year 12.00% fixed-coupon bond, and was placed by Citi. Cabei is coming off a $75m 2-year syndicated loan in Asia and a $500m 2014 global, both done in the last three months. The bank says it plans to raise at least $800m in 2010.