Cabei Back for More Francs

The Central American Bank for Economic Integration (Cabei) has raised CHF275m ($299m) in dual-tranche bonds, according to a person familiar with the deal. A CHF130m 2016 bond priced at 100.28 with a 0.625% coupon to yield 0.665%, or mid-swaps+45bp. A CHF145m 2019 bond priced at 100.65 with a 1.500% coupon to yield 1.465%, or mid-swaps+65bp. Proceeds will be used for general funding purposes. Credit Suisse managed the transaction, rated A/A2/A. Cabei now turns to the Mexican domestic bond market, and is looking at a $150m-equivalent bond with a tenor of 3 or 4-years. Cabei is also targeting a $50m 15-year bond through a private placement in the dollar market before the end of the year. Looking farther ahead, Cabei is considering issuance in a range of other international markets, including Australian dollars. In January, Cabei raised CHF150m ($164m) in new 2020 bonds, in its first deal in Switzerland since 2010.