New Issue: Panama prices $750 million 40-year bonds at par to yield 4.3%

By Christine Van Dusen

Atlanta, April 22 - Panama sold $750 million 40-year bonds (/BBB/BBB) at par to yield 4.3%, or Treasuries plus 139.7 basis points, according to an FWP filing with the Securities and Exchange Commission.

BofA Merrill Lynch and Credit Suisse were the bookrunners for the SEC-registered deal.

The proceeds will be used to partially fund the sovereign's 2013 budget.

Issuer:	Panama
Amount:	$750 million
Maturity:	April 29, 2053
Description:	Global bonds
Bookrunners:	BofA Merrill Lynch, Credit Suisse
Coupon:	4.3%
Price:	Par
Yield:	4.3%
Spread:	Treasuries plus 139.7 bps
Make-whole call:	Treasuries plus 25 bps
Trade date:	April 22
Settlement date:	April 29
Ratings:	Standard & Poor's: BBB
	Fitch: BBB
Distribution:	Securities and Exchange Commission registered

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