Global Clinches Regional Covered Bond Debut
Oct 1, 2012
Global Bank has finally succeeded in bringing Latin America its first covered bond transaction, raising $200m. After initially meeting investors in May, the Panamanian lender waited for better market conditions, and seems to have found them in the September market, generating $500m in orders from 70 accounts. The notes priced at 98.906 with a 4.750% coupon to yield 5.000%, at the tight end of both...
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