CAF upsizes dollar bond sale to $750m

Latin American development bank CAF has sold $750 million worth of five-year bonds, increasing the size of the deal after receiving strong demand for the paper.

The initial issue size was $500 million but the order book grew to a total size of $1.05 billion with over 90 individual orders.

CAF priced the new 1.625% 2025 notes at 99.772, to yield 135 basis points over mid-swaps or 141 basis points over US Treasuries.

With Citi, Daiwa, GSI and Nomura at the lead, the development bank opened the initial price talk in the 135 basis points over mid-swaps area before launching at that level.