Banistmo poises for Panama recovery with second international bond

Panama City, Banistmo, Panama, skyscrape, cityscape, ocean, LatAm, 575
By Oliver West
30 Jul 2020

The chief financial officer of Panama’s second largest bank, Banistmo, told GlobalCapital that Wednesday’s bond issue was a sign of investor confidence not only in the issuer but in the prospects for the country, as economists say they expect it to be one of the outperformers in Latin America.

Banistmo issued $400m of Baa3/BB+/BBB- rated seven year bonds on Tuesday at 4.375%, tightening pricing from initial price thoughts 5%. The order book peaked at $1.5bn and ended at around $1.3bn, according to market sources. 

“No country will escape the impact of Covid-19, but we feel Panama has been ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial