Panama - Discount Bond

Issuer:
The Republic of Panama
Guarantor:
None
Issue Size:
n/a
Maturity:
30 years
Interest Rate:
6-month LIBOR plus 13/16%
Coupon Frequency:
Semi-annual
Issue Date:
Expected during 1995
Amortisation:
None. Bullet at maturity.
Options:
Callable at par with accrued interest on coupon dates if no default.
Currency:
US Dollar only
Form:
Registered securities
Denominations:
$250,000 and multiples thereafter
Credit Rating:
not rated
Principal Collateral:
30-year zero-coupon US Treasury bonds
Interest Payment Collateral:
9-month rolling interest guarantee rising to 12-month rolling interest
guarantee by two years