Panama finds investors keen for long end

By Oliver West
04 May 2017

One of the best-performing sovereigns in Latin America showed that investors had no fears when it came to buying duration as it raised $1bn of long bonds alongside a $150m tap of its 10 year on Thursday.

Panama, which is rated lower than but already trades through its peer Mexico at certain points of the curve, announced a benchmark 30 year and a re-opening of its 3.875% 2028s on Thursday morning as part of a liability management exercise. 

The sovereign set initial price thoughts of 135bp ...

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