LatAm development bank CAF places $800 mln bond to boost region's economies

Latin American development bank CAF said on Thursday it was placing a $800 mln bond aiming to boost economic development in Latin America and the Caribbean.

In a statement, the bank said it "continues to channel resources to support the economic and social reactivation plans of its 21 member countries." The bond will have a 3-year maturity and a 5.25% coupon, and is follows two previous global issues in euros and U.S. dollars made this year for a 5-year term, the bank said.

CAF president Sergio Diaz-Granados said in the statement the region could count on a financially solid CAF thanks to the commitment of its shareholders, the entry of new countries and an approved capitalization of $7 billion

. "This allows us to achieve objectives such as this, of attracting new resources at favorable rates to continue supporting governments when they need us most," he said.