By Reshmi Basu
New York, Aug. 4 - The Republic of Panama reopened its 8 1/8% global bond due 2034 (Ba1/BB/BB+) to add $250 million, according to a market source.
The re-tap priced at 113¼ to yield 7.042 or 252 basis points more than Treasuries.
Deutsche Bank was the bookrunner for the drive-by transaction.
This brings the total size of the issue to $500 million.
| Issuer: | Republic of Panama
|
| Issue: | Retap of 8 1/8% global bonds due 2034
|
| Re-tap size: | $250 million
|
| Total size: | $500 million
|
| Maturity: | April 28, 2034
|
| Coupon: | 8 1/8%
|
| Issue price: | 113¼
|
| Yield: | 7.042%
|
| Spread: | 252 basis points over Treasuries
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 11
|
| Bookrunner: | Deutsche Bank
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Fitch: BB+
|
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