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NEW YORK, Sept 15 (IFR) - The Republic of Panama has opened books on a new 10-year US dollar bond, setting initial price thoughts at 175bp area over US Treasuries, according to market sources.
The sovereign, rated Baa2/BBB/BBB, has hired Bank of America Merrill Lynch and Citigroup to arrange the offering, which is expected to price as soon as possible.
Reporting by Joan Magee and Davide Scigliuzzo; Editing by Paul Kilby