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CAF issues $1.25B bond

Banco De DesarrolloDe América Latina on May 4 issued a three-year bond worth $1.25 billion,its largest debt offering so far in 2016, the company said.

Demand for the bond reached $2.20 billion, allowing the developmentbank, known as CAF, to reduce the interest rate in the debt by 15 basis points toaround 2%.

Central banks and public institutions accounted for nearly 40%of orders, followed by fund managers, banks and insurers.

The bond offering is the 14th placementby CAF since the start of the year.