May 5, 2021 |
Panama's Banco General sold $400 million worth of perpetual non-call 10 Tier 1 notes after orders reached $1.1 billion on Tuesday, said a source involved the deal.
With Bank of America, JPMorgan and Goldman Sachs as joint bookrunners, the Panama City-based bank priced the perpetual notes at par to yield 5.25%, the source said.
The bank opened the deal with the initial price talk in the high-5% to 6% area, before setting guidance at 5.375%, plus or minus 12.5 basis points, and launching at 5.25%
Panamanian bank sells $400 mln worth of new notes after orders reach $1.1 bln