Panama Fund Botches Bond Attempt

Panama Fund Botches Bond Attempt

Panama

Panama has pulled a sale of up to $759.7m in existing global bonds held in a development fund, reversing course due to low bids. The government-backed Fondo Fiduciario para el Desarrollo announced Thursday morning it would sell 3 series of sovereign bonds through an auction, before cancelling the transaction in the early afternoon, according to investors. “This is likely to introduce a supply-risk premium on Panama’s curve,” Boris Segura, economist at RBS, tells LatinFinance, even though it didn

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