Panama: "Great opportunity for sovereign bonds"
Opportunities also appear in turbulent times and now is a great moment for the sovereign bond market. Panama is making the most of this opportunity.
Thursday, October 2, 2008
The credit crisis, which has caused important banking entities in the US and Europe to fail, has led investors to seek refuge in safer instruments and despite all the US Treasury Bonds have not lost their appeal.
The government is working on a bond issue in the international market for $1 billion, with terms of between 10 and 30 years.
The Finance Ministry has proposed extending the maturity of domestic debt bonds, which would not be in the interest of investors.
News of upcoming economic recovery is pushing up the price of Costa Rica's external debt bonds.
Panama has launched an offer to swap US$500 million of its bonds with maturities in 2011 and 2012 for cheaper, 20-year titles.
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