Panama - Interest Reduction Bond (Brady IRB)
Panama - Interest Reduction Bond
Interest Reduction Bond issued under the Brady Plan restructuring agreement.
| Issuer: | The Republic of Panama |
| Guarantor: | None |
| Issue Size: | n/a |
| Maturity: | 18 years |
| Interest Rate: | Year 1..........................................3 1/2% Year 2..........................................3 3/4% Year 3..........................................4% Year 4..........................................4 1/4% Year 5..........................................4 1/2% Year 6..........................................4 3/4% Year 7..........................................5% Years 8 to 18................................6-month LIBOR plus 13/16% |
| Coupon Frequency: | Semi-annual |
| Issue Date: | Expected during 1995 |
| Amortisation: | Repayable in 27 equal semi-annual installments beginning 5 years after issuance. |
| Options: | Callable at par with accrued interest on coupon dates if no default. |
| Currency: | US Dollar only |
| Form: | Bearer securities |
| Denominations: | $250,000 and multiples thereafter |
| Credit Rating: | Not rated |
| Principal Collateral: | None |
| Interest Payment Collateral: | 6-months rolling interest guarantee expiring at the end of the seventh year |