Latham & Watkins advised Latin American development bank CAF (Corporación Andina de Fomento) on its €1 billion syndicated bond offering, the latest series to be sold under CAF’s US$30 billion medium-term note program. The offering, which follows the largest bond financing in CAF’s history of US$1.5 billion issued in a January 2023 SEC-registered transaction, is aimed at supporting economic development throughout Latin America. The five-year notes obtained a coupon of 4.50% and are listed on the London Stock Exchange’s main 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 eighteen sovereign nations across Latin America and the Caribbean, together with Spain and Portugal. Since the start of 2023 alone, Latham has counseled CAF in over 10 bond offerings exceeding US$3 billion in proceeds.
The Latham & Watkins LLP team that advised CAF in the offering was led by Basil Al-Jafari and Roderick Branch, with associates Angel Marcial, Carolina Bernal, and Luca Morreale
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