Panama selling dollar-denominated Treasury bonds on Wednesday

Chicago, June 23 – The Republic of Panama (Baa2/BBB/BBB-) is offering new local Treasury bonds due 2031, Bonos del Tesoro, that will be denominated in U.S. dollars, according to a press release.

HSBC Securities (USA) Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc. and Valores Banistmo SA will serve as initial purchasers for the Rule 144A and Regulation S offering.

Simultaneously, the international initial purchasers, the three banks listed before Valores, announced an offering of new Treasury bonds via global depositary notes supplement to be issued by Citibank, NA in its capacity as depositary.

The global depositary notes will represent new treasury bonds denominated in U.S. dollars and will be issued in increments representing at least $1,000 in aggregate principal amount of new treasury bonds and integral multiples thereof. Each global depositary note will represent $1.00 in principal amount of new treasury bonds deposited with Citibank, NA – Panama Branch, as custodian for the depositary.

The new Treasury bonds will be listed on the Panama Stock Exchange. The global depositary notes will be listed on Euronext Dublin.

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