Crédit Agricole CIB has supported the Central American Bank for Economic Integration (CABEI) as joint bookrunner and sole sustainability coordinator on a USD 2 billion, three-year social bond.
The transaction is the largest bond issuance in CABEI’s history and the biggest social or sustainability bond issued to date by a Latin American-headquartered multilateral development bank.
The bond priced at SOFR mid-swap plus 49 basis points, the tightest US dollar benchmark spread achieved by CABEI, and inside both its own and peers’ secondary curves, effectively resetting the regional MDB curve. Despite aggressive tightening during execution, investor demand remained strong.
The orderbook was the highest quality recorded for CABEI, with central banks, official institutions and Tier I asset managers accounting for a significant share of demand. The issuance also attracted 35 new investors, including several new central banks and official institutions.
Proceeds will be allocated to eligible social projects in line with CABEI’s Sustainable Bond Framework. CABEI received orders that doubled those of its previous benchmark, achieved at a significantly tighter spread, reflecting improved ratings, diversification and funding costs over the past year.
Rodrigo Gonzalez, Director, DCM, New York, said: “The strong demand at a tighter spread shows investors are responding to the positive credit developments CABEI has delivered over the past 12 months.”
Romina Reversi, Head of Sustainable Investment Banking, Americas, added: “Acting as sole sustainability coordinator on this landmark social bond highlights both robust investor demand and issuer appetite for sustainable finance as we enter 2026.”
Crédit Agricole CIB has supported CABEI in sustainable finance since its inaugural green bond in 2019.
