New Issue: Panama prices $500 million tap of 5.2% notes due 2020 to yield 3¾%

By Christine Van Dusen

Atlanta, Nov. 22 - Panama priced a $500 million tap of its 5.2% notes due Jan. 30, 2020 (expected ratings: Baa2/BBB/BBB) at 107.924 to yield 3¾%, or Treasuries plus 238.8 basis points, according to a filing.

Citigroup and JPMorgan were the bookrunners for the Securities and Exchange Commission-registered deal.

The original $1 billion issue priced on Nov. 23, 2009.

Issuer:	Panama
Amount:	$500 million
Maturity:	Jan. 30, 2020
Description:	Notes add-on
Bookrunners:	Citigroup, JPMorgan
Coupon:	5.2%
Price:	107.924
Yield:	3¾%
Spread:	Treasuries plus 238.8 bps
Trade date:	Nov. 21
Settlement date:	Nov. 26
Expected ratings:	Moody's: Baa2
	Standard & Poor's: BBB
	Fitch: BBB
Distribution:	Securities and Exchange Commission registered
Original issue:	$1 billion priced on Nov. 23, 2009

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