TheCaribbean Development Bank,or CDB, launched on June 15 a 12-year bond offering in the Swiss market worth145 million Swiss francs, the bank said in a statement July 7.

The couponrate, 0.297%, is the lowest ever obtained by an international public sectorissuer in the Swiss market for a maturity over 10 years. The offering alsomarks the first time a Caribbean borrower has accessed the Swiss marketsuccessfully.

Theoffering was facilitated by Credit Suisse, which acted as sole book runner onthe transaction.

Theinvestor base was dominated by asset managers and banks, which accounted formore than two-thirds of the total offered, while the rest went to pension fundsand insurance companies, the bank said.

"Thebond offering was oversubscribed in a very short period of time, demonstratingthat there is strong investor confidence in CDB, even in light of the less thanoptimal market conditions, including volatility due to Brexit concerns,"said CDB President, Dr. Warren Smith, according to a press release.

Thedecision to enter the Swiss market allows CDB to diversify its investor base,he added.

Thelast public issue by the bank was in 2012 when it raised $300 million in U.S.markets.

As of July 7, US$1 was worth0.98 Swiss francs.