Firm Advises Latin American Development Bank CAF on €1.25B Offering

Cross-border team of Capital Markets and Latin America-focused lawyers advised the issuer on its largest-ever euro-denominated bond sale.

February 05, 2021

Latham & Watkins advised Latin American development bank CAF (Corporación Andina de Fomento) on its €1.25 billion syndicated bond offering, the latest tranche to be sold under CAF’s US$23 billion medium-term note program. The offering is CAF’s largest-ever euro-denominated bond issue, and is aimed at supporting economic development in light of the impact of the COVID-19 pandemic throughout Latin America. The five-year notes obtained a coupon of 0.25% and are listed on the London Stock Exchange’s regulated market. 

CAF is a multilateral financial institution that seeks to foster and promote economic development within Latin America and the Caribbean. Its principal and associated shareholders include the nations of Argentina, Barbados, Bolivia, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Jamaica, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Trinidad and Tobago, Uruguay, and Venezuela. Over the last 12 months, Latham has counseled CAF in offerings of nearly US$2.5 billion. 

The Latham & Watkins LLP team that advised CAF in the offering was led by Roderick Branch and Basil Al-Jafari, with associate Angel Marcial.


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