Alberto Vallarino, Panama's Finance Minister, commented that his government is seeking to diversify its sources of finance, as well as raise the country's profile in Japan and Asia.

The Japanese yen-denominated bond market is currently going through a period of growth and activity, according to an article on BusinessWeek.com, which also notes that Panama will pay less interest on its yen denominated bonds than on it dollar ones, even after taking into account exchange rate differentials.

Source: Bloomberg.com

More on this topic

Panama: Public Debt up 10%

November 2018

Partly explained by issuance in international markets between October last year and the same month in 2018, government debt increased from $23.418 million to $25.814 million.

According to the most recent figures from the Ministry of Economy and Finance of Panama, between the tenth month of 2017 and October of this year, the government has increased the debt by $2.396 million.

S&P Confirms Nicaragua's Debt Rating

February 2018

Standard & Poor's has maintained the rating of B+ for long-term sovereign debt, arguing that economic growth is stable and the burden of public debt remains moderate.

From a statement issued by Standard & Poor's:

On Feb. 16, 2018, S&P Global Ratings affirmed its 'B+' long-term local and foreign currency sovereign credit ratings on the Republic of Nicaragua.

Panama Issues $1.25 billion at 3.75% at 10 years

March 2015

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.

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%.

Panama to Issue $500 Million in "Samurai" Bonds

November 2010

The country announced its first sovereign bond issue in the Japanese market.

"These securities, known as "samurai" will be placed among Japanese institutional investors, with the possibility of having a guarantee of up to 95% of the value of issuance by the Japan Bank for International Cooperation”, said the Panamanian Ministry of Economy and Finance in a statement to Invertia.com.