By Christine Van Dusen
Atlanta, March 11 – Panama priced $1.25 billion 10-year notes (Baa2/BBB/BBB) at 99.857 to yield 3.889%, or Treasuries plus 178 basis points, on Wednesday, a market source said.
The notes were talked at a spread in the 200 bps area.
BofA Merrill Lynch and Deutsche Bank were the bookrunners for the Securities and Exchange Commission registered-deal.
The proceeds will be used for general budgetary purposes and for liability management transactions.
| Issuer: | Panama
|
| Amount: | $1.25 billion
|
| Maturity: | March 16, 2025
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Deutsche Bank
|
| Coupon: | 3¾%
|
| Price: | 99.857
|
| Yield: | 3.889%
|
| Spread: | Treasuries plus 178 bps
|
| Trade date: | March 11
|
| Settlement date: | March 16
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
| Fitch: BBB
|
| Distribution: | Securities and Exchange Commission registered
|
| Price talk: | Treasuries plus 200 bps area
|
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