Banistmo prices new bonds at discount

Banistmo prices new bonds at discount

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

Panamanian lender Banistmo sold $400 million worth of seven-year notes on Tuesday with yields drawing narrower on the initial price targets, sources familiar with the details of the transaction said. The 2027 notes, carrying a 4.375% coupon, were sold at a discount of 99.253. When the transaction launched it had initial price targets in the 4.5% range, sources said. The joint bookrunners on the deal were Bank of America, Citi and JPMorgan.  This latest offering extends the bank's US dollar yield

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