Panama - Par Bond (Brady)
Panama - Par Bond
Par Bonds issued under the Brady Plan restructuring agreement.
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Issuer:
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The Republic of Panama
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Guarantor:
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None
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Issue Size:
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n/a
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Maturity:
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30 years
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Interest Rate:
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Year 1............................................3%
Year 2............................................3 1/4%
Year 3............................................3 1/2%
Year 4............................................3 3/4%
Years 5 & 6....................................4 1/4%
Years 7 & 8....................................4 3/4%
Years 9 & 10..................................5 1/4%
Years 11 to 30................................5 1/2%
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Coupon Frequency:
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Semi-annual
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Issue Date:
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Expected during 1995
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Amortisation:
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None. Bullet at maturity.
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Options:
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Callable at par with accrued interest on coupon dates if no default.
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Currency:
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US Dollar only
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Form:
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Registered securities
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Denominations:
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$250,000 and multiples thereafter
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Credit Rating:
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not rated
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Principal Collateral:
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30-year zero-coupon US Treasury bonds
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Interest Payment Collateral:
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9-month rolling interest guarantee rising to 12-month rolling interest
guarantee by three years
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