Mexico has been a non-regional CABEI member since 1992 with an authorized stake of USD306.25 million in the Bank's share capital and capital contributions of USD76.56 million, ranking as the third largest shareholder within the group of non-regional members with 5.03%.
The contribution that Mexico channels to the Central American region through CABEI is based on various financial cooperation instruments with Banco Nacional de Comercio Exterior S.N.C. (Bancomext) for a total amount of USD520.8 million. The relationship between the Bank and this country was solidified in 2008 with the launching of the Central American Social Housing Development Program. It falls under the framework of the Mesoamerican Integration and Development Project (formerly Plan Puebla Panamá). Since that date, the Mexican government has made resources available to develop a sustainable market for long-term housing finance in the Central American region that addresses the housing deficit and future needs in this area. Throughout the Program's existence, 59 disbursements have been made through 14 intermediary institutions. In total, 192.7% of the initial financing available has been channeled, benefiting a total of 8,032 low- income households, which can now enjoy a more dignified home.
CABEI successfully returns to the Australian market
The Bank returns to the Australian market by reopening the bond with which it debuted last November.
Tegucigalpa, February 17, 2017. - The Central American Bank for Economic Integration (CABEI) returned to the Australian capital market through the reopening of a 10-year bond with a 4.42% coupon, which it had placed in Australia under its local program in November of last year.
The reopening announcement was for AUD25 million, but due to high demand the order book grew to AUD65 million (equivalent to US$50.1 million). The reopening, in addition to the amount placed in November, amounts to AUD140 million, which constitutes a benchmark bond in the local market (amounts greater than AUD100 million); this will increase the bond´s liquidity and it will be highly valued by investors as it can be included in local indexes used by portfolio managers.
CABEI is the third Latin American issuer to enter the Kangaroo market, which involves foreign issuers accessing the local investor base in Australian dollars.
CABEI Executive President Dr. Nick Rischbieth stated that, "The return to the Australian market contributes to solidifying the process begun with the issue made last year and opens the possibility of becoming a recurring issuer. This operation reaffirms the Bank's ability to venture into new markets and diversify its investor base, especially given the current high volatility in emerging markets."
Dr. Nick Rischbieth also highlighted that CABEI's funding strategy involves seeking the diversification of markets and currencies; this can be demonstrated by its issuance history, which reaches 23 markets and 20 currencies.
CABEI’s financial soundness is currently supported by the investment grade ratings of different international rating agencies, such as S&P Global Ratings (A with a positive outlook), Moody's (A1 with a stable outlook) and Fitch Ratings (A with a positive outlook).
