By Aaron Hochman-Zimmerman
New York, March 18 - The Republic of Panama reopened its 7¼% senior fixed-rate bonds due 2015 for $323 million at a price of 101, according to a market source.
The bonds (Ba1/BB+/BB+) came in line with talk of 101.
Morgan Stanley and UBS acted as bookrunners for the deal.
Proceeds will be used for general budgetary purposes.
Issuer: Republic of Panama
Issue: Senior fixed-rate bonds
| Amount: | $323 million
|
| Maturity: | 2015
|
| Coupon: | 7¼%
|
| Price: | 101
|
| Bookrunners: | Morgan Stanley, UBS
|
| Pricing date: | March 19
|
| Settlement date: | March 25
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Price talk: | 101
|
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