LatAm Bonds
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Buyers snapped up some scant Latin American sovereign bonds this week, as the Republic of Panama carried out a funding and liability management exercise. The republic sold $235m of seven year bonds on Monday, followed by a debt exchange the next day. Citigroup and Deutsche Bank led both transactions.
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KfW continued to impress the market with its fundraising capabilities when issuing a 10 year dollar benchmark this week. The $3bn bond took the borrower’s financing up to the equivalent of Eu44bn — 60% of the Eu70bn targeted for the year.