Panama Fund Sells Down 2027 Holdings

Panama Fund Sells Down 2027 Holdings


Panama says the government-backed Fondo Fiduciario para el Desarrollo has sold off its holdings of sovereign-issued 8.875% coupon 2027 notes. The 2027 position went for $441m, having been acquired for $362m, it claims. The sale resulted in a capital gain of $78.2m for the fund, says the government in a statement. In December, the fund attempted to sell all of its global Panama bond holdings, which then amounted to $760m, but pulled the transaction after receiving low bids. The clumsy maneuver le

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