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CAF's permanent presence in the most demanding international arenas has allowed it to issue approximately USD 1,382 million in 2011 and USD 1,988 million in 2010 in the bond markets.

In 2010, CAF registered the largest capital market bond issue activity in its history. Noteworthy are the following: an issue in the US market for USD 600 million, a European market issue for EUR 400 million (approximately USD 538 million), the Institution’s second issue in the Swiss market for CHF 250 million (approximately USD 262 million) and an issue for JPY 14.4 billion (approximately USD 178 million) in the Japanese market.

Continuing with its strategy of making placements in the local market of its shareholder countries, CAF was involved in two other issues for Uruguayan investors for USD 50 million each. With regard to the Uruguayan issue, this type of activity promotes local diversification and provides incentives for other international institutions to participate in these markets.

Also worth noting is CAF’s first placement in the Uridashi Japanese market of USD 74 million, aimed at private investors and in which very high credit issuers traditionally participate.

During 2011, CAF placed approximately USD 1.4 billion, of which the following stand out: one placement in the US market for USD 500 million, one issue in the European market for EUR 250 million (approximately USD 344 million), two issues in the Swiss market for a total of CHF 255 million (approximately USD 275 million), and one issue for JPY 10 billion (approximately USD 125 million) in the japanese market. In addition, CAF placed two transactions, one in Panama for USD 40 million and another in Mexico for MXN 1.3 million (approximately USD 98 million), in line with its strategy of increasing its presence in the local markets of its shareholder countries.

Periodically, CAF also issues short-term notes through its commercial paper programs, which reach USD 2.0 billion in the United States and USD 2.0 billion in Europe.

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