Panama Issues $34 million Treasury Bills

The Republic of Panama began on January 15 emissions for the State Titles in 2013, auctioning Treasury Bills, for which it received offers for $ 51.3 million.

Wednesday, January 16, 2013

A press release from the Ministry of Economy and Finance reads:

The Republic of Panama has begun its program of government securities emissions for 2013, with the first auction of Treasury bills on Tuesday 15 January, receiving competitive proposals for the sum of U.S. $51.3 million.

Of this amount, U.S. $ 34.0 million were awarded for a term of nine months, with an expiry date of October 18, 2013, with an average price of 99.27% and a weighted average yield of 0.970%. The margin on the reference U.S. Treasury and LIBOR, both for nine months was 0.819% and 0.308% respectively.

Through these emissions, the Government is able to contribute to the development of the domestic capital market, increase the liquidity of the Treasury and diversify its sources of financing for the budget of the fiscal year 2013.

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