Global Bank resets cross-border benchmark

Global Bank resets cross-border benchmark

Panama Bonds

Panama's Global Bank has raised $550m from a benchmark Rule 144A/Reg S cross-border bond, a debt capital markets banker told LatinFinance.The bookrunners Citi, Deutsche Bank, JPMorgan and UBS priced the five-year notes at 99.942 with a 4.5% coupon to yield 4.513%, or 325bp over US Treasuries, the banker said.Initial price talk put the spread in the mid-300bp area, but investor interest allowed the leads to tighten the price to 337.5bp at guidance, give or take 12.5bp, the banker said.G

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