Panama

AES Panama Lowered

Panama Corporate & Sovereign Strategy

S&P has downgraded AES Panama to BB+ from BBB minus, it says, due to a less favorable risk profile.The agency finds that the hydroelectric generator’s business and financ...

Panama Emerges with LM

Panama Bonds

The Republic of Panama has launched a three-day cash tender offer targeting holders of its $962m outstanding in 7.25% 2015 bonds, it says. The sovereign is offering $1,09...

Avianca ADS Sale Takes Off

Colombia Panama Equity

Avianca has launched the equity sale marking the debut of the ADS representing preferred shares of the Avianca Holdings entity, targeting more than $500m in a November 5 ...

Panama Considers LM Operation

Panama Bonds

Panama has closed an RFP process for a potential liability management transaction, according to bankers familiar with the process. The request was for a domestic or cross...

Panama Airport ABS Aims GDN

Panama Bonds Structured Finance

Panama City’s Aeropuerto Internacional de Tocumen (AITSA) is understood to be working with Morgan Stanley for the placement of the GDN component of a 2023 structured bond...

IDB Grants Panama Water Loan

Panama Loans

Panama will receive a $54m loan from the Inter-American Development Bank (IDB), the IDB says. The 25-year loan comes with a 5.5-year grace period and pays an undisclosed ...

Bladex Closes Asian-Led Loan

Panama Asia Loans

Banco Latinoamericano de Comercio Exterior (Bladex) has closed a 3-year, $103m syndicated loan paying Libor+120bp, according to people familiar with the matter. Nine bank...

Panama Airport Sets Price

Panama Bonds Structured Finance

Panama City’s Aeropuerto Internacional de Tocumen (AITSA) has set a price and placed about half of a $650m 2023 structured bond, according to a source familiar with the t...

Panama Airport Preps Structured Bond

Panama Bonds Structured Finance

Panama City’s Aeropuerto Internacional de Tocumen (AITSA) is planning to issue a $650m 2023 senior secured bond backed by passenger departing fees, according to Fitch, wh...

Global Bank Retaps Covered Bond

Panama Bonds Structured Finance

Panama’s Global Bank has raised $100m through a reopening of its 4.75% 2017 covered bond on the back of reverse inquiry. The Panamanian lender reopened the Baa3/BBB note ...

Aval Takes BBVA Panama

Colombia Panama M&A

Spain's BBVA has agreed to sell its Panama unit to Colombia's Grupo Aval for $646m, the parties say. The transaction continues Aval's Central American expansion, as well ...

Panamanian Bank Launches Loan

Panama Loans

Panama’s Banco General has launched a $150m loan, according to people familiar with the transaction. The loan offers a 2-year tranche at Libor+140bp and a 3-year tranche ...

Telefonica Sells CentAm Stake to Pay Debt

Panama Nicaragua El Salvador

Spain’s Telefonica has agreed to sell 40% of its assets in El Salvador, Guatemala, Nicaragua and Panama to Guatemalan family-owned conglomerate Corporacion Multi Inversio...

Panama Goes Long in Bond Return

Panama Bonds

Panama has returned to the market to issue a $750m 40-year bond, for what people close to the deal say would be a similar price to the 30-year it had been eyeing. The $4....

Bladex Sells Asset Management Unit to Managers

Panama M&A Funds

Banco Latinoamericano de Comercio Exterior (Bladex) has agreed to sell its asset management unit to members of its own asset management team, it says. The buyer is a newl...