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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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The most pressing issue is related to guaranteeing this growth of the system, the savings. We have to guarantee that this growth is followed by better asset managers on the side of the Afores.

Carlos Ramírez, Mexico’s pension regulator, Consar


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