Tocumen to Issue $650 Million in Bonds

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.

Wednesday, July 10, 2013

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.

"We are waiting for the rating agencies to finalize their report for the international component and for auditors to deliver audited financial statements and then we will carry out the issue," he added.

More on this topic

Tocumen Issues Bonds for $400 million

October 2013

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

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.

Panama: Issue of $900 million in Domestic Debt

July 2013

The proceeds obtained will be used to replace external with internal debt, via an exchange or payment for the global bond Panama 2015.

"Before the end of this year we want to do another operation for liability management. This will be based on what we have left to reduce from the 2015 global bond, a little over $900 million.

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.

Panama Raises $395 million with Bonds

August 2011

The National Highway Company (ENA in Spanish) has issued certificates on the stock exchange in order to raise funds for the South Corridor for the company ICA.

Using debt bonds, with one series placed on the international market and another in the local market, the ENA was able to raise $225 million in the local market at a rate of 5.25% and $170 million in the international market at 5.75%.

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