Panama launches US$1.25bn 10-year bond
By Davide Scigliuzzo
NEW YORK, Sept 15 (IFR) - The Republic of Panama is set to raise US$1.25bn on Monday through the issuance of a new 10-year bond, market sources said.
The sovereign, rated Baa2/BBB/BBB, has launched the transaction at a final spread of 150bp over US Treasuries, tight to guidance of 160bp area and to initial price thoughts of 175bp area.
Bank of America Merrill Lynch and Citigroup are leading the deal, expected to price later on Monday. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)
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