The development of Latin America’s local capital markets continues apace following the first bond issue by a multilateral organization in Venezuela in 30 years. The bond, worth B215 billion ($100 million) and with a five-year maturity, was launched last month by CAF, the Andean development bank. It is the biggest non-government bond issued in Venezuela.
Enrique García, president and CEO of CAF, says that the deal fits with the bank’s aim of helping develop its member countries’ capital markets. CFO Hugo Sarmiento adds: “It provides local institutional investors with a portfolio diversification opportunity [and the bond] should have an active secondary market.”
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