CABEI issues its first bond in the Uridashi Market
The Central American multilateral returns to the Japanese market after 4 years
Tegucigalpa, September 4, 2015. - The Central American Bank for Economic Integration (CABEI) returned to the Japanese market after four years with its first bond in the Uridashi market; the bank had previously issued in the Japanese market under the Samurai format and with private placements.
On September 1st, CABEI issued a 10.55 % coupon 145.3 million bond denominated in Turkish Lira (approximately USD 50 million) maturing in 2019 whose proceeds were swapped to USD. The Uridashi market provides access to Japanese retail investors. This is a very selective market accessible by high quality issuers only. The average annual issuance in this market is close to US$25bn equivalent and several currencies are used.
CABEI´s Executive President, Dr. Nick Rischbieth, stated: “this transaction represents both a return to the Japanese market whilst opening a new Japanese investor base. This placement contributes to CABEI’s geographic and currency diversification thus allowing it to further its mission of socio-economic development in the region”.
Currently, CABEI’s international long term ratings are: A by Standard and Poor’s, A1 by Moody’s, A by Fitch Ratings, and AA- by Japan Credit Rating (JCR).
