CABEI returns to the Formosa Market in Taiwan through its CNH $700 million (equivalent to USD 104.6 MM) 3.95% Notes Offering due 2019
CABEI announced its public offering of RMB $ 700 million aggregate principal amount (equivalent to USD 104.6 MM) of 3.95% Notes due 2019 in the Formosa Market of Taiwan.
Tegucigalpa September 2 2016.- The Central American Bank for Economic Integration (CABEI) announced its public offering of RMB $ 700 million aggregate principal amount (equivalent to USD 104.6 MM) of 3.95% Notes due 2019 in the Formosa Market of Taiwan.
CABEI is the only Latin American issuer in the Formosa Market since its debut in 2014, demonstrating once more its capacity to access this market and contributing to the efforts of the Taiwanese government to promote the country as an offshore center for Renminbi
Taiwan has provided CABEI with unfettered access to its domestic capital market, becoming the 3rd largest source of funds after CHF and MXN. In 1997, CABEI’s first bond issuance was placed in Taiwan and, in the following years, thirteen more were executed in that market. All issuances by CABEI in Taiwan before 2014 were denominated in New Taiwan Dollars (NTD).
The Notes offered under the issuer´s MTN programme in registered form and pursuant to Regulation S of the Securities Act, were listed in Taiwan and Luxembourg to attract investors from both Taiwan and Hong Kong.
The bank´s Executive President, Nick Rischbieth, who spoke to top quality investors during a road show back in April in Taipei, emphasized the bank´s long term commitment with Taiwanese investor´s community where the bank has been issuing since 1997, and highlighted the bank´s funding strategy consisting of geographical diversification, demonstrated through the issuance of debt in more than 21 markets and 19 currencies.
Taiwan became the second extra-regional partner to join the bank in 1992, after it had made a capital subscription equivalent to 7.5% of the bank’s authorized capital. In 2012 Taiwan’s participation in the bank’s authorized capital increased to 10%, becoming the extra-regional member with the highest share of subscribed capital, close to that contributed by the bank’s founding members; a fact that speaks highly of Taiwan’s commitment towards CABEI.
CABEI´s ratings are A1 Stable / A Positive / 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 in which such an offer would be unlawful. The securities offered will not be and 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 to, 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.
