Panama prints largest ever deal despite volatility

By Oliver West
24 Sep 2020

The Republic of Panama sold its largest ever bond across three tranches on Tuesday, clinching tight pricing on a new 12 year but appearing to offer value on a longer bond and a local law tap.

On what was the calmest day of the week for EM credit as the asset class began to react to broader global volatility, Panama announced a new benchmark maturing in September 2032, a reopening of its 3.7% July 2060s, and a tap of its 3.75% local law treasury ...

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