Tocumen Issues Bonds for $400 million

During the first day of trading 61.5% of the $650 million issue by Tocumen SA was placed in the Panamanian market.

Monday, October 7, 2013

From a press release by Tocumen:

For the first time in its history, Tocumen International Airport has gone to the Panama stock market in order to partially finance its investment plan for the medium term.

To that end, the airport administration, together with Banco Prival SA, has structured and successfully carried out the placement of a first tranche of bonds on the Stock Exchange of Panama, in the amount of $400 million, which aims to meet AITSA's immediate financial needs .

The bonds maturing in 10 years and with a coupon of 5.75% payable quarterly, correspond to the first tranche of an authorized amount of $650 million, whose main use is to partially finance the construction of the new South Terminal at the airport, which will add 20 additional gates, with the aim of meeting the growing demand for passenger traffic transiting through the international airport.

More on this topic

Tocumen to Issue $650 Million in Bonds

July 2013

The bonds will be issued in July and August, and the funds will be used for the airport's expansion program, said the operator of Tocumen International Airport.

According to the Minister of Economy, Frank De Lima, the securities will be issued both in the local and international markets, but the percentages for each have not yet been established.

Panama: $600 Million in Bonds by Tocumen SA

May 2013

The bond issue is announced for mid-year, as part of the financing for the construction of the South Terminal.

Juan Carlos Pino, manager of the company, estimates that the bonds will be issued at the end of June or early July.

The funds will be used to expand the capacity of the existing terminal. "We need to build new taxiways to speed the transit of aircraft in the terminal in the rush hours," said Pino.

Refinery Bonds in Costa Rica for $200 million

September 2012

RECOPE has received authorized to file a Standardized bond issue totaling $200 million, to be placed on Costa Rica and Central American stock markets.

A statement from the Costa Rican Petroleum company (RECOPE SA):

SUGEVAL gives green light for RECOPE bond program

The Costa Rican Petroleum Refinery (RECOPE SA) has been registered as an issuer in the National Issuer Registry of the Securities Superintendence (SUGEVAL), which by Resolution SGV-R-2702 of August 27, 2012 authorized a program of A Standardized Bond issues, which will be placed both on the domestic market, and in Central America.

Costa Rica: $500 million in Treasury bills

March 2012

The government of Costa Rica is seeking funding for infrastructure projects, taking advantage of low rates in the international market.

Costa Rica has plans to place bonds for at least $500 million for development and infrastructure projects, probably in certificate with 10 year terms, said Finance Minister Fernando Herrero.

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