Panama Issues $1.25 billion at 3.75% at 10 years

The issue in the international market had demand of 4.6 times and was placed with a coupon of 3.75%, 178 basis points above US Treasury bond for the same timeframe.

Thursday, March 12, 2015

From a statement issued by the Government of Panama:

The Republic of Panama today dabbled successfully in international bond markets through the placement of Global Notes Due in 2025 in the amount of $1.25 billion at a yield of 3.889%.

This is the lowest yield on which a bond issue has been placed by the Republic of Panama, denominated in dollars in international markets. Additionally, the coupon of 3.75% per annum, is also the lowest coupon achieved in the country's history in a dollar issuance.

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Panama Issues Global Bonds for $750 million

April 2013

Bids were received worth $4.5 billion for the issue placed on the international market, due in the year 2053 with a fixed coupon of 4.30% per annum.

From a press release issued by the Ministry of Economy and Finance (MEF) of Panama:

The Republic of Panama returned to the international capital markets today with a successful issue a new global bond in the amount of $750 million maturing in 2053 with a fixed coupon of 4.30% per year, making it the sovereign instrument issued with the longest term and at the lowest cost in the history of the Republic. Bids were received for over $4.5 billion, more than 5.8 times the indicative amount of $750 million. Investors from the United States, Asia, Europe and Latin America participated in this issue. The results of this new issue reflect the confidence of the international financial community in Panama and it is a recognition of the economic and fiscal performance of our country.

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