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.
Juan Melillo, a financial adviser, believes that the US Treasury bonds and those for Panama's debt, are for the "short term" and are not based on the credit foundation of both countries, instead they are a good reflection of the current global markets.



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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.

Price of Costa Rican Bonds on the Rise

September 2009

News of upcoming economic recovery is pushing up the price of Costa Rica's external debt bonds.

An article in Prensalibrecr.com reports that "Costa Rica's sovereign debt bonds (bde) are not immune to the price increase of other emerging market bonds. As a result, the bde 2020 was traded as high as 127.91 this week, reaching levels similar to those before the bankruptcy of Lehman Brothers".

Panama launches US$500 million bond-swap

June 2008

Panama has launched an offer to swap US$500 million of its bonds with maturities in 2011 and 2012 for cheaper, 20-year titles.

The 2011 and 2012 bonds have a coupon of 9.625 percent and 9.375 percent respectively. The new paper has a 9.735 percent coupon.
In addition to the bond swap, Panama aims to improve its credit profile by reopening an existing issue by offering US$235 million of bonds that reach maturity in 2015.

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