Cabei Returns for Mexican Local Debt

The Central American Bank for Economic Integration (Cabei) has raised MXP2bn ($154m) in Mexico’s domestic bond market, Ricardo Rico, its head of capital and financial markets, tells LatinFinance. The 2016 bond priced at TIIE+10bp, after seeing 2.2x demand from 21 accounts. JPMorgan managed the transaction, rated AAA on a national scale. As of June 2013, approximately 28% of the development bank’s funding has come from the dollar markets, 19% from the Mexican bond market and 11% from the Swiss bond market. Cabei in March raised CNH500m ($80m) in its first-ever offshore renminbi bond.