CABEI issues bonds for 50 million dollars in Panamanian stock market

This was CABEI's tenth issue in the region's public securities markets. "Exactly one year ago, a simultaneous bond issue was made in three of the region's countries, requiring coordination, methodology, infrastructure and regulation," recalled CABEI Executive President Dr. Nick Rischbieth.

Dr. Rischbieth said that CABEI is continuing to reinforce its efforts to promote the integration of regional capital markets and added that this issue will be registered in the region's secondary markets. "Each bond issue successfully carried out in organized markets validates this means for Central American companies to raise capital. Our primary objective is for others to replicate what we have done," added the CABEI President.

The bonds were targeted at regional investors, and the issue was made after a publicity roadshow in Central America and Panama. The transaction involves a zero coupon that accrues interest based on a step-up structure, payable upon maturity or on each early redemption date since the issuer has the option to cancel the note as of the 5th year.

The issue was registered locally in Panama and internationally in Luxembourg. The placement was made by Citivalores, S.A., one of the top brokers in the Panamanian market.

With these efforts, CABEI is targeting one of the focus areas defined in its 2010-2014 Corporate Strategy - developing financial intermediation and development finance as part of its work towards fostering regional growth.