Panama tightens latest 2050 bond

Panama tightens latest 2050 bond

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Panama

Panama sold a $1.2bn 2050 bond on Monday tight to initial price talk (IPT) after investors piled in throughout the earlier stages of bookbuilding. Citi and Deutsche Bank set IPTs at 175bp area of US Treasuries before shaving 20bp off the yield by time of guidance, DCM sources confirmed. The pair launched the trade on the tight end of guidance, at 150bp, and priced the 2050s with a 4.5% coupon to yield 5.26%, or 99.569. The sovereign's own 4.5% 2047s, printed last May, were spotted at 137bp over

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