Banco Nacional de Panama Issues $1 Billion in Bonds

In an auction process in which more than 200 investors from different parts of the world participated, the bank placed the debt at a rate of 2.5% for a 10-year term.

Wednesday, August 5, 2020

This transaction is the first international bond issue in the capital markets of Banco Nacional in its almost 116 years of existence and represents the largest issue that any Panamanian financial institution has made.

You may be interested in "Financial Services: Business Potential in Central America"

The National Bank's press release dated August 5 explains that an overdraft of $4.8 billion was achieved and that the placement of this issue was carried out by Credit Suisse and Goldman Sachs, covering the markets of the United States, Europe, Asia and Latin America.

See "Credits: Potential Market in the Region"

Javier Carrizo Esquivel, General Manager of Banco Nacional de Panama, explained that "... It is the largest issue and at the lowest rate obtained by a financial entity in the country. This is truly a historic day, since in the context of this pandemic, the full confidence of the capital markets in Panama has been demonstrated. We left with an issue of up to $1 billion, approved by our Board of Directors and the Cabinet Council, and we have achieved a demand of almost 5 times more."

According to studies conducted by CentralAmericaData, at a regional level about 16 million people are looking to hire financial services over the Internet, of this group of consumers, 10% are located in Panama.

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