NEW YORK, July 28 /PRNewswire-FirstCall/ -- BBVA Securities Inc. and BBVA
Continental SAB, (acting as Global Bookrunner and Local Placement Agent,
respectively) announced today the successful placement of the 150 Million
Condor II Bond for Corporacion Andina de Fomento. The significantly
oversubscribed transaction was increased from the USD 100 million initially
announced, and has a maturity of 4 years with a semiannual coupon of Libor +
28 bps.
Condor II targeted the Andean institutional investor base and is listed in
the Quito, Guayaquil and the Luxembourg stock exchanges. A Lima stock
exchange application for listing is in process. The multi-listing is expected
to further contribute to the development of the local regional capital
markets.
The Condor II Bond saw strong interest from Pension Funds, Banks, Central
Banks, Mutual Funds and other institutional investors, looking to invest in
high-grade dollar denominated assets. The floating rate offers protection
versus future interest rate increases. Condor II has set the standard for
regional bonds in the Andean region, and was distributed 55% in Peru, 18% in
Colombia, 14% in Venezuela and 13% other countries.
The Condor II Bond enabled BBVA to capitalize on its local distribution
network by offering a quality diversification investment opportunity for local
investors in the Andean region.
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.
SOURCE BBVA Securities Inc.
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CONTACT:
Janifer Burns, Head of Fixed Income Capital
Markets Dept of BBVA, +1-212-728-2389
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