By Rebecca Melvin
New York, July 11 – Corporacion Andina de Fomento priced $1.25 billion of 2.2% three-year notes (Aa3/AA-/AA-) at 99.905 to yield 2.233%, or mid-swaps plus 45 basis points, on Tuesday, according to a syndicate source.
Pricing came on top of talk, which was tightened from the mid-swaps 50 bps area during marketing.
The SEC-registered notes were sold via joint bookrunners Barclays Bank plc, BofA Merrill Lynch, and Deutsche Bank Securities Inc.
Proceeds will be used for general corporate purposes, including funding lending operations.
CAF is a regional lender, based in Caracas, Venezuela.
| Issuer: | Corporacion Andina de Fomento
|
| Amount: | $1.25 billion
|
| Maturity: | July 18, 2020
|
| Description: | Notes
|
| Bookrunners: | Barclays Bank plc, BofA Merrill Lynch, and Deutsche Bank Securities Inc.
|
| Coupon: | 2 2%
|
| Price: | 99.905
|
| Yield: | 2.233%
|
| Spread: | Mid-swaps plus 45 bps
|
| Spread talk: | Mid-swaps plus 45 bps, tightened from mid-swaps plus 50 bps
|
| Trade date: | July 11
|
| Settlement date: | July 18
|
| Ratings: | Moody's: Aa3
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
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