CABEI issues MXN Notes for 2nd Time this Year
The transaction represents a significant achievement for the multilateral.
High volatility tends to limit action in the capital market; However, a good credit story can be sold, even when conditions are not the best. On October 20th CABEI announced the Issuance of MXP 1.325 billion in Fixed Rate Notes.
"We continue harvesting successful transactions in the market" stated Dr. Nick Rischbieth Glöe, CEO of CABEI.
"We have completed more than 20 deals in 8 Latin American currencies, fostering our objective and in consonance with our strategy of funding diversification", he added.
The notes pay a semi-annual coupon of 5% and mature in 2016, thus adding to CABEI's Mexican curve. "Since 2007, CABEI has executed 2 transactions in average every year in Mexico, raising close to MXN 10 billion", commented Jose Felix Magana, Treasurer of Multilateral Lender.
The notes, issued out of CABEI's MTN program, received top rating of "MxAAA" by both Fitch Ratings and Standard & Poor's.
