{"id":22618,"date":"2018-03-20T09:48:55","date_gmt":"2018-03-20T14:48:55","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=22618"},"modified":"2018-03-20T09:48:55","modified_gmt":"2018-03-20T14:48:55","slug":"panama-eyes-panda-bond-market-500-million-year-end","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-eyes-panda-bond-market-500-million-year-end\/","title":{"rendered":"Panama Eyes Panda Bond Market for Up to $500 Million by Year-End"},"content":{"rendered":"

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Panama will probably sell so-called Panda bonds this year to take advantage of lower borrowing costs in the Chinese market.<\/p>\n

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After swapping the money back into dollars, the country may be able to trim a quarter or half a percentage point from the rate it would need to pay for an equivalent maturity dollar bond, the nation\u2019s Finance Minister Dulcidio De La Guardia said Wednesday, in an interview in Sao Paulo.<\/p>\n

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Dulcidio De La Guardia<\/p>\n<\/div>\n

Photographer: Romain Gaillard\/Redux<\/div>\n<\/figcaption><\/figure>\n

The sale of up to $500 million of the bonds with a maturity of less than 10 years will take place in the second half of the year \u201cif the market conditions and price are right\u201d and would mostly be to Chinese investors, De La Guardia said.<\/p>\n

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Panama has had seven upgrades from the three main ratings agencies over the last decade, as its economy grew at the fastest pace in the Americas, taking its living standards close to European levels. The Central American nation is also planning to tap the dollar bond market for at least $1 billion before the end of June, and is also trying to attract a larger investor base to its domestic market, he said.<\/p>\n

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