CABEI announces its first incursion into the Norwegian bond market

Furthermore, CABEI is adding yet another currency to its already impressive historic record of transactions in 17 currencies and 20 markets, thereby boosting the diversification of its liability portfolio.

Furthermore, CABEI is adding yet another currency to its already impressive historic record of transactions in 17 currencies and 20 markets, thereby boosting the diversification of its liability portfolio.

Today, the Central American Bank for Economic Integration (CABEI) announced a private placement of an aggregate amount of $1.0 billion Norwegian krones (NOK) in two equal tranches, with 2.9% and 3.04% coupons and terms of 12 and 15 years, respectively. 

With this issue, CABEI has become one of the few Latin American issuers to incur in the Norwegian market, once again demonstrating its capacity to access new international capital markets. Furthermore, CABEI is adding yet another currency to its already impressive historic record of transactions in 17 currencies and 20 markets, thereby boosting the diversification of its liability portfolio. 

The Norwegian capital market is basically composed of highly liquid insurance companies and pension funds with a strong appetite for high quality international bonds. Investors were very pleased to receive a delegation of top CABEI officials, who successfully managed the transaction with the support of HSBC, the structuring bank. 

The bearer bonds, which were offered under CABEI’s MTN Program, are considered senior and unsubordinated debt and rank pari passu in right of payment with current and future CABEI obligations. The Bank will use the bond proceeds to expand credit, pursuant to its mandate.

During his two-day work trip to Oslo, CABEI Executive President Dr. Nick Rischbieth spoke to distinguished investors, mainly insurance companies and pension funds. In his presentations, he highlighted the Bank´s strong credit ratings and recent financial performance. He also emphasized CABEI´s long-term commitment to issuing in capital markets.

CABEI´s current ratings are A1 Stable / A Stable / A Stable (Moody’s / S&P/ Fitch)

This announcement does not constitute an offer of securities for sale in the United States or in any other jurisdiction where such an offer would be unlawful. The securities offered will not be and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States or outside the United States, or for the account or benefit of any U.S. person, as defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements.