April 26, 2019 |
Panama's ETESA received heavy orders in its debut in the international bond market, selling $500m in 30-year notes, but it reduced the size of the offering from initial plans of $750m, LatinFinance has heard.
"Books were five times oversubscribed," said a banker on the deal, adding that the strong demand allowed the state-owned transmission company to lower the yield by 25bp.
The bookrunners Bank of America and Scotiabank priced the notes to yield 5.125% after they put the initial price talk a
Panama's state-owned transmission company receives heavy orders but reduces offer to $500m