Banconal sets up $1 bln bond sale

Banconal sets up $1 bln bond sale

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

Banco Nacional de Panamá (Banconal), one of two government-owned banks in Panama, is expected to issue up to $1 billion in 10-year bonds in an upcoming Rule 144A/Reg S deal, according to ratings reports on Thursday. Moody's assigned Banconal a first-time rating of Baa1 with a stable outlook and gave the planned notes the same score, citing the state-owned lender's inexpensive funding base, strong liquidity and solid profitability. "Banconal's ratings also incorporate the government of Panama's e

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