By Aaron Hochman-Zimmerman
New York, March 19 - The Republic of Panama announced details of its reopened 7¼% senior fixed-rate bonds due 2015, according to a press release.
The for $323 million of bonds (Ba1/BB+/BB+) were priced at 101 to yield 7.041%, or a spread of Treasuries plus 549 basis points.
Pricing matched talk of 101.
Morgan Stanley and UBS acted as bookrunners for the registered deal.
Proceeds will be used for general budgetary purposes.
Issuer: Republic of Panama
Issue: Senior fixed rate bonds
| Amount: | $323 million
|
| Maturity: | March 15, 2015
|
| Coupon: | 7¼%
|
| Price: | 101
|
| Yield: | 7.041%
|
| Spread: | Treasuries plus 549 bps
|
| Bookrunners: | Morgan Stanley, UBS
|
| Pricing date: | March 19
|
| Settlement date: | March 25
|
| Distribution: | Off shelf
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Price talk: | 101
|
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