CARACAS, Venezuela, Jan. 18, 2013 /PRNewswire/ -- "This year CAF celebrates its 20th consecutive year in the global capital markets, where the bank has established a distinguished track record, obtaining more than 90% of its financial resources from investors outside of Latin America. With the support of these global investors, CAF has been able to concentrate its efforts on helping to generate economic development in the bank's member countries and to promote Latin American integration," declared CAF president Enrique Garcia, as he announced the 100^th bond issue in the history of the development bank of Latin America.  

The sale of the bonds, which come due in 2021 and bear an annual interest rate of 1.375%, raised 250 million Swiss francs (approx. US $272 million). The bonds carry the lowest interest rate and have the longest term of any bonds CAF has sold in the Swiss market. CAF is the most frequent Latin American issuer in Switzerland, one of the world's most exclusive financial markets, to which only institutions with the highest credit ratings have access. Credit Suisse was the issuing bank for the sale.

Garcia added that CAF attracts a lot of interest from international investors "as a result of the bank's solid and consistent financial performance throughout its history, which is attributable to the unwavering support of its shareholder countries, the bank's prudent credit policies, and its independence, all of which together, make CAF a trusted issuer in the most prestigious global markets."

CAF, which belongs to a select group of Latin American issuers in global capital markets, plays a catalytic role by attracting international funds, which are used to support economic development opportunities in the region.

In 2012, CAF raised more than US$ 2.7 billion in international financial markets, bringing the total amount raised since 1993 to approximately US$17 billion. These resources translate directly into investments in economic development projects in Latin America, through a variety of high value-added financial services in both the public and private sectors, in the form of direct loans, credit guarantees, equity raises, treasury services, financial consulting, and technical cooperation, among others.

The mission of CAF - Development Bank of Latin America - is to promote sustainable development and regional integration, by financing projects in the public and private sectors and providing technical cooperation and other specialized services. Established in 1970 and currently consisting of 18 countries - 16 in Latin America and the Caribbean, along with Spain and Portugal - and 14 private banks, it is a major source of multilateral financing and an important source of knowledge in the region.

SOURCE CAF