Panama: Six companies prepare stocks and bonds issuances for $800 million

Six companies will issue corporate bonds and stocks with terms of 3 to 28 years, with interest rates of up to 12.5%.  

Monday, July 7, 2014 reports that of the issuances that are being prepared in the Panama Stock Exchange, "... the biggest will be by Banco Internacional de Costa Rica, S.A., with rotating corporate bonds for 200 million dollars with 3 or 7 year terms at a rate yet to be defined. "

"... They are followed by Hrydro Caisán, SA and the Unión Nacional de Empresas, S.A, with securities valued at 90 million each. In the case of Hrydro Caisán, SA corporate bonds will be issued with 7 year temrs, and Unión Nacional de Empresas, S.A will issue common type 'B' shares."

"... .Inmobiliaria Cervelló, S.A., meanwhile, will issue corporate bonds worth $84.5 million, with a senior rate of 6% ​​range in the first five years and Libor 6M +4% in the sixth year onwards, as well as a subordinated range of 12.5% . The bonds have a term of 12 years in the senior series and another subordinated series for the next 25 years."

More on this topic

State-owned Electrical Plant Issues $75 Million in Debt

May 2019

Empresa de Transmisión Eléctrica de Panamá issued seven-year local market debt securities with a 3.85% interest rate.

Empresa de Transmisión Eléctrica S.A. (ETESA) made its first issue of corporate bonds in the Stock Market of Panama, for the sum of seventy-five million dollars ($75 million) to be used to finance investment projects included in the Expansion Plan of the National Interconnected System (PESIN) of 2018, said the institution in a statement.

State-owned Electric Plant Issues $500 Million in Debt

April 2019

The Empresa de Transmisión Eléctrica de Panamá issued debt securities for 30 years at a 5.125% interest rate.

The bonds have a deadline in May 2049, i.e. 30 years from the date of issue and will have a grace period on capital payments of 15 years, informed the institution.

Hydroelectric Station to Issue Bonds for $90 million

September 2014

The subsidiary company of Panamá Power, operator of the hydroelectric El Alto, is seeking financing through a six year term bonds placement in the Panamanian stock market.

Hydro Caisán published on the website of the Stock Exchange of Panama the preliminary prospectus of the issue, which details the characteristics of the placement and the uses for the $90 million it seeks to raise.

Panama: El Alto Hydroelectricity Station to Issue $90 million in Bonds

May 2014

Hydro Caisán requested permission for its second corporate bond issue which it aims to use to restructure liabilities.

After having completely placed a $130 million bond issue in 2012, the company Hydro Caisán, SA has asked the Superintendency of Securities (VPS) for approval for a new issue of up to $90 million, with the aim of paying off in advance the existing bonds of Generadora Pedregalito, S.A.

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Challenge Consulting Group S. A.

Consulting firm especialized in financial and securities ehchange markets in Latinamerica
Operates in Panama
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