Covered bond for Panama's Global Bank
Deutsche Bank is marketing a US dollar denominated covered bond for Ba1 rated Global Bank in Panama. The transaction is expected to be structured and does not benefit from a legal framework or special regulatory oversight.
Global Bank is set to go on the road with Deutsche to market the bond, which will be overcollateralised by residential mortgages, with additional security in the form of recourse to the issuer.
Moodys is expected to rate the deal in the triple-B area. It rates the borrowers
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