Metro de Panama offers value over sovereign paper

Metro de Panama offers value over sovereign paper

Panama Bonds

Metro de Panama printed a $619m 2022 bond sale with a 3.3-year average life on Monday after sole lead UBS kept the orderbook open over the weekend to accommodate European investors, LatinFinance understands. The Swiss bank started price talk in the low 4% area, before revising this at guidance to the 4% area. The bank then tightened the yield to 3.875% at launch.  Metro de Panama's new paper offered some 90bp over the sovereign's own 2024s, according to Adrian Garcia, a senior EM analy

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