Panama to Issue $500 Million in "Samurai" Bonds

The country announced its first sovereign bond issue in the Japanese market.

Wednesday, November 17, 2010

"These securities, known as "samurai" will be placed among Japanese institutional investors, with the possibility of having a guarantee of up to 95% of the value of issuance by the Japan Bank for International Cooperation”, said the Panamanian Ministry of Economy and Finance in a statement to Invertia.com.

The proceeds will be used to refinance debt and fund the Government's fiscal deficit for 2011.

More on this topic

Costa Rica Prepares New International Debt Issuance

March 2014

The government is working on a bond issue in the international market for $1 billion, with terms of between 10 and 30 years.

The bond issue was structured by the Bank of America, Merrill Lynch and Deutsche Bank according to information provided by Jordi Prat, Deputy Minister of Investment and Public Credit.

Little Interest Costa Rica's Long Term Bonds

July 2013

The Finance Ministry has proposed extending the maturity of domestic debt bonds, which would not be in the interest of investors.

"During 2013, the auctions were dominated by long-term securities, specifically, those whose maturity dates were equal to or exceeded ten years," noted an article in Elfinancierocr.com.

Panama Plans to Issue $500 Million Worth of Bonds in Japan

September 2010

The Panamanian government intends to issue the bonds in the Japanese capital markets.

Alberto Vallarino, Panama's Finance Minister, commented that his government is seeking to diversify its sources of finance, as well as raise the country's profile in Japan and Asia.

The Japanese yen-denominated bond market is currently going through a period of growth and activity, according to an article on BusinessWeek.com, which also notes that Panama will pay less interest on its yen denominated bonds than on it dollar ones, even after taking into account exchange rate differentials.

Guatemala Prepares $560 Million Bond Issue

May 2010

The Finance Ministry will meet with potential investors this week and will decide how much to set aside for the domestic and international markets.

Decree 19-2010 was published in the official government newspaper, thus authorizing the Finance Ministry to issue the securities.

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