Panama: $600 Million in Bonds by Tocumen SA

The bond issue is announced for mid-year, as part of the financing for the construction of the South Terminal.

Wednesday, May 8, 2013

Juan Carlos Pino, manager of the company, estimates that the bonds will be issued at the end of June or early July.

The funds will be used to expand the capacity of the existing terminal. "We need to build new taxiways to speed the transit of aircraft in the terminal in the rush hours," said Pino.

With the amendment introduced by the Government in 2011 to the Fiscal Responsibility Act, debt contracted by the entities Tocumen, SA, Empresa Nacional de Autopistas and Empresa de Transmisión Eléctrica, S.A. will not be part of the fiscal balances of the State. ", reported Prensa.com.



More on this topic

Tocumen Issues Bonds for $400 million

October 2013

During the first day of trading 61.5% of the $650 million issue by Tocumen SA was placed in the Panamanian market.

From a press release by Tocumen:

For the first time in its history, Tocumen International Airport has gone to the Panama stock market in order to partially finance its investment plan for the medium term.

Tocumen To Issue Bonds Worth $650 million

August 2013

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.

Tocumen to Issue $650 Million in Bonds

July 2013

The bonds will be issued in July and August, and the funds will be used for the airport's expansion program, said the operator of Tocumen International Airport.

According to the Minister of Economy, Frank De Lima, the securities will be issued both in the local and international markets, but the percentages for each have not yet been established.

Tocumen's Debt Capacity Increases by $100 million

June 2013

The company which manages the main international airport in Panama now has a borrowing limit of $650 million.

From a press release from the Government of Panama:

The Cabinet gave the green light to amending Cabinet Resolution No. 168 of December 18, 2012, which authorizes Aeropuerto Internacional de Tocumen, S.

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