The Central American Bank for Economic Integration (CABEI) is not well known in the international capital markets. Before April of this year, it had never issued a bond.
But now is a good time to be issuing debt, and CABEI’s debut issue, a 10-year $200 million 10-year bond lead managed by Salomon Smith Barney, turned out to be a huge success.
Playing off CABEI’s investment-grade credit rating from all three agencies, Salomon managed to line up 43 investors in the US, Europe and Latin America, who between them ordered almost $700 million of bonds.
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