Panama prices US$1.25bn 10-year bond to yield 4.089%
NEW YORK, Sept 15 (IFR) - The Republic of Panama, rated Baa2/BBB/BBB, has priced a US$1.25bn 10-year bond at a final yield of 4.089%, according to market sources.
The new issue, which carries a coupon of 4.0%, priced at a final spread of 150bp over US Treasuries, tight to price guidance of 160bp area and inside initial price thoughts of 175bp area.
The reoffer price was 99.275.
Bank of America Merrill Lynch and Citigroup were the lead managers on the SEC-registered issue. (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)
© Thomson Reuters 2017 All rights reserved.