Panama readies offering of global bonds due 2035 via two bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Nov. 14 – The Republic of Panama is planning to offer global bonds due 2035, according to a 424B3 filed with the Securities and Exchange Commission.

There will be a make-whole call until three months before the maturity date, after which there will be a par call.

BofA Securities, Inc. and HSBC Securities (USA) Inc. have been hired as bookrunners for the deal.

Bank of New York Mellon is the fiscal agent.

Legal advisers for Panama are Arnold & Porter Kaye Scholer LLP (U.S. law) and in-house counsel.

Sullivan & Cromwell LLP are advising the bookrunners for U.S. law and Arias, Fabrega & Fabrega is advising on Panamanian matters.

Proceeds will be used for general budgetary purposes and liability management transactions.

Listing will be on the Luxembourg Stock Exchange.

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