LatinNews Daily - 22 March 2023

In brief: Panama issues bonds to boost budget

*Panama’s government led by President Laurentino Cortizo has issued a US$1bn bond on international markets and reopened another bond for US$800m according to the economy & finance ministry (MEF). A MEF press release notes that the coupon rates for the bonds are 6.85% for the US$1bn bond (with a yield of 6.85%), which matures in 2054, and 6.40% for the US$800m bond, which matures in 2035 and has a yield of 6.16%. The operation is in line with the MEF’s finance strategy for the 2023 state budget, for which its financing needs are estimated at US$4.15bn which includes US$2.18bn for the central government’s investment programme. The Panamanian government hailed the positive response to the bond issuances, receiving offers of over US$9.5bn from more than 260 investors from North America, Europe, Asia, Latin America, and the Middle East according to the MEF.

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