By Rebecca Melvin
New York, April 12 – Panama’s Global Bank Corp. priced $300 million 10-year notes (BBB-/BBB-) at par to yield 5¼%, according to market sources on Friday.
Citigroup and JPMorgan were joint bookrunners of the Rule 144A and Regulation S offering.
The issue was priced in conjunction with a tender offer for the company’s $550 million of 5 1/8% notes due 2019.
The issuer is a bank based in Panama City.
| Issuer: | Global Bank Corp.
|
| Amount: | $300 million
|
| Maturity: | April 16, 2029
|
| Description: | Notes
|
| Bookrunners: | Citigroup and JPMorgan
|
| Co-manager: | Bladex
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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