L&W advises CAF on £1bn bond issue

Latham & Watkins has advised Corporación Andina de Fomento (CAF), the Latin American development bank, on its benchmark issue of £1bn of 4.750% bonds 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 more than two decades and its fourth syndicated transaction in 2024, following benchmark issues in EUR, USD and AUD. The offering received strong investor demand and reflects further strategic diversification of CAF’s funding programme and investor base.

Barclays, BofA Securities and HSBC acted as joint lead managers for the transaction.

L&W’s team was led by partners Basil Al-Jafari (pictured left) and Roderick Branch (pictured right), together with associate Lois Pickering.