BG Launches $250m Local Perp

BG Launches $250m Local Perp

Panama

Panama's Banco General started Tuesday bookbuilding on a sale of up to $250m in dollar-denominated 6.5% coupon perpetual bonds in the local market. The total amount will likely be sold in smaller pieces, say officials familiar with the transaction, with the first part expected this month. The bank has not indicated how much it plans to sell at first. The perps are callable after 5 years but maintain their 6.5% coupon permanently. The deal is first perpetual bond done by Banco General in any mark

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