Tocumen goes long again

Tocumen goes long again

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Project & Infrastructure Finance Panama

The Aeropuerto Internacional de Tocumen said it has added $650m to its 30-year notes through a private placement in New York. The reopening received $1.53bn in orders, 2.3 times supply, which allowed the lead underwriter Citi to price the bonds with a coupon of 6% and a yield of 6.25%, Tocumen said in a statement. Tocumen will use the proceeds to pay off the 10-year notes it issued in 2013 with a coupon of 5.75%. The airport operator first issued the 2048 bonds in May this year. Tocumen plans to

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