Panama Upsizes 2020 Retap

Panama Upsizes 2020 Retap

Panama Bonds

Panama priced $500m in reopened 2020 bonds Thursday to fund a cash tender for its 2015 bonds, almost doubling the $260m size indicated earlier in the day. The 5.200% coupon bond reopened at 107.924 to yield 3.750%, at the tight end of 3.850%-area guidance, according to people following the sale. The sovereign received orders for $689m in the tender open Friday through Tuesday, and said early Thursday it planned to accept $345m. There was no indication following the pricing if Panama would increa

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