NEW YORK, March 10 /PRNewswire-FirstCall/ -- BBVA Securities Inc. and BBVA
Continental SAB announced today the successful placement of Corporacion Andina
de Fomento's ("CAF") inaugural Condor Bond. The Condor Bond, a US$75 million
Floating Rate Notes offering was increased from US$ 50 million and matures in
2006.
The Condor is the first of its kind targeting a unique Andean investor
base. The Notes bear interest of Libor + 87.5 bps, payable semi-annually and
are listed on both the Luxembourg and Lima Stock Exchanges. BBVA Securities
acted as Bookrunner taking advantage of its local distribution capabilities in
Latin America and its international markets expertise. BBVA Continental Bolsa
acted as Local Placement Agent in Peru.
"We are proud of this milestone for BBVA Securities and the BBVA group.
The Condor Bond has enabled us to capitalize on our local network distribution
while offering a exciting investment opportunity for local investors in the
Andean region," said Jaime Saenz de Tejada, Head of BBVA Wholesale Banking
Americas.
The Regulation S Notes were offered under CAF's existing EMTN Program and
distributed on a private placement basis among a select group of institutional
investors in Peru, Colombia, Ecuador and Venezuela. The Bond saw strong
interest from regional investors looking to invest in high-grade dollar
denominated assets, while the floating rate offered protection versus future
interest rate increases.
The offering complements CAF's traditional funding sources from US,
European and Japanese investors. CAF has a proven track record of
successfully tapping the international capital markets. CAF is currently
rated A, A2, A by Standard and Poor's, Moody's and Fitch, respectively.
BBVA aims to facilitate the breadth and diversity of investment
alternatives for local investors across markets as well as to foster local
opportunities for global issuers. BBVA's local presence and market knowledge
makes BBVA a natural partner of choice.
SOURCE BBVA Securities Inc.
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CONTACT:
Janifer Burns, Head of Dept Capital Markets,
BBVA, +1-212-728-2389
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