The issuance by Empresa Nacional de Autopista (ENA), is due for release in mid-October and the funds will be used to finance the expansion of the Northern Corridor and for a toll system and a surveillance system.
The Northern Corridor extension will be made from Brisas del Golf up to the 24 de Diciembre and the toll system and video surveillance will be installed on these two highways.
The total issue will be made on the domestic market, which will contribute to the dynamism of the local market.
The issue to be made in September will finance the construction of a new terminal of at least 80 thousand square meters and 20 boarding gates.
In addition, the works include the construction of an avenue to connect the new terminal directly with the South terminal, a project which will be the responsibility of the Brazilian construction company Norberto Odebrecht.
The proceeds obtained will be used to replace external with internal debt, via an exchange or payment for the global bond Panama 2015.
"Before the end of this year we want to do another operation for liability management. This will be based on what we have left to reduce from the 2015 global bond, a little over $900 million. We want to reduce a high percentage of it or if we can all of it," explained Dario Espinosa, Deputy Minister of Finance.
Congress discussed today in the first debate the bill adopting a custody regime applicable to shares issued to bearers.
From a press release issued by the National Assembly of Panama:
The Commission of Economy and Finance of the National Assembly will discuss in a first debate on Tuesday from 2:00 pm Bill 568 "to adopt a custody regime applicable to shares issued to bearers," which was presented by Minister of Economy and Finance, Frank De Lima.
Plans are afoot to allow foreign companies and investors to buy and sell on the Panama Stock Exchange with the same ease offered by stock markets of developed countries.
In interview for Capital.com.pa by Marianela Palacios, the Deputy Minister of Finance of Panama Dario Espinosa, said that within the entity's work plan, one of the priorities will be the opening of the Panamanian capital market.
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