Global Bank goes on the road

Global Bank goes on the road

Bonds Debt Capital Markets Fixed Income Corporate & Sovereign Strategy Panama Central America

Global Bank has gone on a roadshow to drum up interest in a $500m medium-term bond, expected to price on April 11, Marelissa Pérez, assistant vice president of investment banking at the Panamanian bank, told LatinFinance.

With JPMorgan and Citi as lead managers and Bladex as co-manager, the bank will meet investors in New York, London and Boston, Pérez said.

Global Bank will use the money to pay for the buyback of its 5.125% notes due this year. The bank has offered a $10 premium to bondholders who tender their notes by April 11.

S&P Global said the upcoming bond sale is "ratings positive" because it will give the bank additional financial flexibility.

Global Bank issued $400m in five-year bonds in October 2014, led by Citi and Deutsche Bank. It added $150m to the 2019 notes at 4.25% in April 2015.

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