Grupo Rey Issues $10 Million in Debt

The Panamanian supermarket chain issued two series of mortgage-backed bonds, for $10.4 million.

Wednesday, August 5, 2009

The objective was to obtain financing for expanding their operations, at a lower cost than bank loans. The market bought all of the first two series of bonds, demanding 5% for three year and 6% to for seven year debt.

"This issue, bought by Panamanian investors, represents the first 20% of $50 million to be issued", reported Prensa.com. "This operation was done to obtain a cheaper source of financing than the local banking system".

More on this topic

Panama's Debt: Benefits of using Bloomberg

October 2014

The placement of Panamanian securities through the Bloomberg platform will mean greater exposure to global investors and consequently increased demand.

It is expected that the Comptroller General's Office will endorse, no later than December, a contract to operate in the Bloomberg platform. From that moment the Panama Stock Exchange will no longer be used to issue Panamanian Government securities.

$600 million Bond Issue for Highway

October 2012

The National Highway Company of Panama (ENA) has issued $600 million in ‘ENA Norte’ bonds, backed by cash flows from toll booths, and not guaranteed by the Panamanian Government.

A statement from the Ministry of Economy and Finance reads:

The company Empresa Nacional de Autopistas (ENA) successfully issued $600 million in bonds to international and domestic investors.

Panama: Indesa Raises $7.6 Million at Panamanian Stock Exchange

February 2010

At the Panamanian securities market, the company sold $7.6 million worth of corporate debt.

This is the first public bond sale by Indesa Finance, Panamanian subsidiary of Indesa Holding.

“These bonds mature in three years, and pay 6.5% annual interest. The sale was approved by the National Securities Commission”, reported Laestrella.com.pa.

Public offering of BICSA bonds for $100 million

August 2008

The Panama branch of the International Bank of Costa Rica (BICSA) has made a public offer of corporate bonds worth $100 million.

The listing and negotiation of these bonds has been authorized by the Panama Stock Exchange (BVP) and the National Stock Commission of Panama, however this authorization does not imply a recommendation or opinion of these stocks or the issuer, indicated a press release from the BVP.

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