Global Clinches Regional Covered Bond Debut

Global Clinches Regional Covered Bond Debut

Panama Bonds Structured Finance

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 5.125%-area guidance and the 5.000%-5.250% range it had been looking for when it first set out to s

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