{"id":16186,"date":"2016-03-20T13:34:19","date_gmt":"2016-03-20T18:34:19","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=16186"},"modified":"2016-03-20T13:34:19","modified_gmt":"2016-03-20T18:34:19","slug":"panama-issues-1-billion-at-3-8-to-12-years","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-issues-1-billion-at-3-8-to-12-years\/","title":{"rendered":"Panama Issues $1 billion at 3.8% to 12 years"},"content":{"rendered":"

\"world-vector_500\"<\/a><\/p>\n

Panama manage to issue bonds on the international market with a margin of only 2.05% above the 10-year US Treasury benchmark.<\/p>\n

The margin of 205 basis points over the 10-year US Treasury bond was even better than that achieved by other countries in the region with equal or better risk ratings, such as Colombia (BBB), Mexico (BBB +) and Uruguay (BBB), which in their 10-year term emissions were paid 245pbs, 210pbs and 245pbs, respectively.<\/p>\n

From a statement issued by the Ministry of Economy and Finance of Guatemala:<\/p>\n

The Republic of Panama<\/a> ventured into the international capital markets through the issuance of new Global Bonds with a maturity of 12 years in the amount of $1 billion and a coupon 3 7\/8%, announced the Minister of Economy and Finance, Dulcidio De La Guardia.<\/p>\n

This transaction, along with emissions of bonds issue<\/a>d in 2014 (Global Bond 2024 – 4.0%) and 2015 (Global Bond 2025 – 3.75%), improves the yield curve of Panama’s government debt and allowed it to get margins better adjusted to US Treasury debt instruments.<\/p>\n

Issuer \/ Bond — Ratings ———– Date ——- Spread —– Yield<\/a> —– Coupon
\nPanama 2028 — Baa2\/BBB\/BBB —3\/10\/2016– —T+205 bps — 3.979%- —3.875%
\nBrazil 2026 — Ba2\/ BB \/ BB+ ——3\/10\/2016 —- T+420 bps —- 6.125% —- 6.000%
\nMexico 2026 — A3 \/ BBB+ \/ BBB+ —1\/13\/2016—T+210 bps— 4.165% — 4.125%
\nUruguay 2027—- Baa2 \/ BBB \/BBB- —10\/15\/2015 –T+245 bps — 4.475%— 4.375%
\nColombia 2026— Baa2 \/ BBB \/ BBB— 9\/21\/2015 — T+245 bps —- 4.653%— 4.500%
\nPeru 2027— A3 \/ BBB+ \/ BBB+ — 8\/18\/2015 — T+195 bps — 4.150% — 4.125%<\/p>\n","protected":false},"excerpt":{"rendered":"

Panama manage to issue bonds on the international market with a margin of only 2.05% above the 10-year<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16186","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"\nPanama Issues $1 billion at 3.8% to 12 years - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-issues-1-billion-at-3-8-to-12-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Panama Issues $1 billion at 3.8% to 12 years\" \/>\n<meta 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