This is a testament to the strength of the financial markets here in Panama.
Banistmo, the financial institution held by the Grupo Bancolombia in Panama, placed US$ 400 million in bonds maturing in five years with a 3.65% annual coupon. Demand was equivalent to 4.5 times the amount sold, reaching US$ 1.8 billion.
The proceeds raised from this placement, which aimed at international investors, should support the bank’s growth and business plan in Panama.
That was the first time that Bancolombia placed bonds in the Panamanian market.