CABEI taps Asia market with dual listed Taipei and Luxembourg Bond

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Accessing the Formosa market with a dual listing in Taipei and Luxembourg exchanges, CABEI´s 19TH issue in Taiwan since 1997, confirms its favorable position in the Formosa Capital Markets, reflecting its strong credit profile.

Tegucigalpa, June 5, 2020.- Tapping Taiwanese capital markets for more than 20 years, CABEI has once again confirmed its solid position in the Formosa market by issuing a USD$ 375 Million bond despite challenging global market conditions.

Historically since 1997 CABEI has made 19 issuances, an amount of more than USD1,899 million in Taiwan. This most recent issue of USD$375 Million, reaffirms CABEI as a renowned name for Taiwanese, Korean and European investors, ultimately increasing the appetite for the bank’s issued bonds.

Through this 5-year tenor bond issuance under its Medium-Term Notes Program (MTN) with a Floating Rate Note 3-month LIBOR based, the Bank announced a minimum issue of USD$200 million and was able to raise US$375 million with an aggregated demand above US$400 Million.

The distribution of the issuance was amongst more than 20 investors, with  95% of these investors from Asia, including, Banks, Securities and Fund Managers from Taiwan, Korea, Hong Kong, Singapore, United Kingdom, Norway and other European accounts.

CABEI’s Executive President, Dr. Dante Mossi, stated, “this recent Bond issue evidences Taiwan importance as a strategic partner of CABEI, country in which the Bank is going to open a representative office to further strengthen the markets, commercial and Official Institutions relationships going forward. CABEI maintains its funding strategy of deepening its market diversification in addition to its access to the USD Global markets as proved by its recent USD 750 M 144-A benchmark issuance. The proceeds  will be of relevance to CABEI in order to support its Emergency Program COVID-19 of USD1.96bn designed for the Central American region and its member countries under the current global pandemic and economic crisis”.

Currently, CABEI’s credit ratings in an international scale are: Standard & Poor’s with a rating of AA (stable outlook), Moody’s with Aa3 (stable outlook) and Japan Credit Rating (JCR) with AA (stable outlook), reaffirming the Bank’s financial strength