Venezuela’s CAF offers three-year notes at mid-swaps plus 50 bps area

By Rebecca Melvin

New York, July 10 – Corporacion Andina de Fomento set initial talk on a benchmark offering of three-year dollar-denominated notes in the mid-swaps plus 50 basis points area, a syndicate source said.

The offering is expected to price on Tuesday.

The Securities and Exchange Commission-registered notes, maturing July 18, 2020, are being sold via joint lead bookrunners Barclays Bank plc, Deutsche Bank Securities Inc. and BofA Merrill Lynch.

Proceeds will be for general corporate purposes, including funding lending operations.

CAF is a regional lender based in Caracas, Venezuela.

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