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Latham & Watkins Advises CAF on £1 Billion 5-Year Benchmark Bond

April 22, 2024
Firm advises the Latin American development bank in its first return to the Sterling bond market in over two decades.

Latham & Watkins has advised Corporación Andina de Fomento (CAF), the Latin American development bank, on its benchmark issuance of £1 billion 4.750% notes due April 2029, listed on the London Stock Exchange’s main market.

The transaction marked CAF’s first return to the Sterling bond market in over two decades and its fourth syndicated transaction in 2024, after benchmark issuances in €, US$, and A$. The offering received strong investor demand and reflects further strategic diversification of CAF’s funding program and investor base. Barclays, BofA Securities, and HSBC acted as joint lead managers on the transaction.

Latham represented CAF in the transaction with a deal team led by partners Basil Al-Jafari and Roderick Branch, with associate Lois Pickering.