Panama Fund Nets $120m Bond Profit

Panama Fund Nets $120m Bond Profit


Panama’s government-backed Fondo Fiduciario para el Desarrollo (FFD) has made $24m profit by selling $346m in 6.25% of 2036 government bonds, Panama’s finance ministry says. This takes total profit from the sale of Panama sovereign bonds it held to $120m. The fund – created in the 1990s with proceeds from various privatizations and has government debt among its assets – sold $250m to the Caja Seguro Social pension fund and $95.9m to Morgan Stanley at 106.25. Morgan Stanley plans to periodically

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