Morimor represents CAF in placement of notes
Panamanian law firm Morgan & Morgan has represented Corporación Andina de Fomento (CAF – the Development Bank of Latin America) in the listing and placement on the Latin American Stock Exchange (Latinex) of a Series of Incremental Fixed Rate Notes in the amount of US $200,000,000.
The placement was made under its Medium Term Note Programme for an aggregate principal amount of up to US $30,000,000,000,000. The Notes are subject to English law and exempt from registration with the Superintendencia del Mercado de Valores de Panamá under article 129(1)(b), which exempts the registration of securities issued by international organisations of which the Panamanian State is a member, as is the case of the issuer.
Citibank London acted as paying, registrar and transfer agent; Citigroup Global Markets Limited (CGML) acted as initial underwriter; and Citivalores acted as local bookrunner.
The local clearing and settlement of the Notes of this Series was done through Latinclear, and by book-entry with Euroclear.
CAF is a multilateral financial institution constituted under international public law, which promotes the development and regional integration of its shareholder countries, including 18 countries in Latin America and the Caribbean, two European countries and 13 Latin American private banks.
Morimor’s team was composed of partner Ricardo Arias (pictured left) and senior associate Ana Carolina Castillo Solís (pictured right).
