Panama Announces Satisfaction of Financing Condition and Results of Its Exchange Invitation
(firmenpresse) - PANAMA, REPUBLIC OF PANAMA -- (Marketwire) -- 01/30/12 -- The Republic of Panama ("Panama") announced today that the Financing Condition has been satisfied for its previously announced exchange invitation (the "Exchange Invitation") to eligible holders of its 7.250% Global Bonds due 2015 (ISIN: US698299AU88; CUSIP: 698299AU8; Common Code: 020635525) (the "2015 Bonds"). Panama will complete the exchange of 2015 Bonds for its 6.700% U.S. Dollar-Denominated Amortizing Global Bonds due 2036 (ISIN: US698299AW45; CUSIP: 698299AW4; Common Code: 024213927) (the "2036 Bonds") pursuant to the Exchange Invitation.
Accordingly, Panama has accepted for exchange all U.S.$258,478,000 aggregate principal amount of 2015 Bonds submitted in noncompetitive offers pursuant to the Exchange Offer. No competitive offers have been accepted. Panama will issue U.S.$248,596,000 aggregate principal amount of 2036 Bonds in exchange for accepted 2015 Bonds.
For each U.S.$1,000 principal amount of 2015 Bonds accepted for exchange, Panama will issue U.S.$962.01 principal amount of 2036 Bonds. The principal amount of 2036 Bonds issued to each holder will be rounded down to the nearest U.S.$1,000. Holders will receive a cash payment in respect of the principal amount not issued as a result of that rounding. The Clearing Cash Premium was set at zero.
The settlement date for the 2015 Bonds exchanged pursuant to the Exchange Invitation is expected to be February 1, 2012.
The terms and conditions of the Exchange Invitation are set forth in the Prospectus Supplement dated January 17, 2012, to the Prospectus dated December 16, 2009, attached thereto (as so supplemented, the "Prospectus"). Capitalized terms used but not defined in this notice are defined in the Prospectus.
Application has been made to list the newly issued 2036 Bonds on the Official List of the Luxembourg Stock Exchange and to have the 2036 Bonds trade on the Euro MTF Market, when and if issued.
Copies of the Prospectus may be obtained free of charge by eligible participants from the Information and Exchange Agent by visiting the Exchange Invitation website at .
The information and exchange agent for the Exchange Invitation is Bondholder Communications Group, LLC.
Bondholder Communications Group, LLC is located at 30 Broad St., 46th Floor, New York, NY 10004 (Attention: Ramona Peters). Bondholder Communications Group, LLC can be reached at the following numbers: +1-888-385-2663 (toll free); +1-212-809-2663 (call collect).
Goldman, Sachs & Co. and Citigroup Global Markets Inc. are acting as Joint Dealer Managers for the Exchange Invitation.
Goldman, Sachs & Co. can be reached by telephone at the following numbers: +1-800-828-3182 (toll free); +1-212-902-5183 (call collect).
Citigroup Global Markets Inc. can be reached by telephone at the following numbers: +1-800-558-3745 (toll free); +1-212-723-6108 (call collect).
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Datum: 30.01.2012 - 20:09 Uhr
Sprache: Deutsch
News-ID 109059
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PANAMA, REPUBLIC OF PANAMA
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Government & Administration
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