Republic of Panama executed its offering of $1.25 billion aggregate principal amount of 3.160% Global Bonds due 2030 and $750 million aggregate principal amount of 3.870% Global Bonds due 2060.

The combined offering of US$2 billion aggregate principal amount of Global Bonds represents the largest single-day public offering of sovereign debt in Panama’s history.

Citigroup Global Markets, Inc. and J.P. Morgan Securities LLC acted as underwriters on the offering.

Arnold & Porter Kaye Scholer advised the Republic of Panama with a team led by Eli Whitney Debevoise II (Picture).

Sullivan & Cromwell advised Citigroup Global Markets, Inc. and J.P. Morgan Securities LLC with Christopher Mann,  Jeffrey D. Hochberg, Paul J. McElroy, Cristina Liebolt and  Joshua Graybill.

Arias, Fábrega & Fábrega – ARIFA advised Citigroup Global Markets, Inc. and J.P. Morgan Securities LLC with Estif Aparicio, Cedric Kinschots and Ricardo E. Arosemena.