Published on 9/28/2012 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Panama's Global Bank sells $200 million 4¾% notes due 2017 to yield 5%
By Christine Van Dusen
Atlanta, Sept. 28 - Panama's Global Bank Corp. sold $200 million 4¾% notes due Oct. 5, 2017 (Baa3/BBB-/) at 98.906 to yield 5%, or Treasuries plus 438.5 basis points, a market source said.
The notes priced at the tight end of talk, set at the 5% to 5 1/8% area.
Deutsche Bank and HSBC were the bookrunners for the Rule 144A and Regulation S transaction.
| Issuer: | Global Bank Corp.
|
| Amount: | $200 million
|
| Maturity: | Oct. 5, 2017
|
| Description: | Covered bonds
|
| Bookrunners: | Deutsche Bank, HSBC
|
| Coupon: | 4¾%
|
| Price: | 98.906
|
| Yield: | 5%
|
| Spread: | Treasuries plus 438.5 bps
|
| Trade date: | Sept. 28
|
| Settlement date: | Oct. 5
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5% to 5 1/8%
|
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