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LatinNews Daily - 18 July 2019

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In brief: Panama’s new bond issue five times oversubscribed

* Panama’s President Laurentino Cortizo has announced that the government has issued new sovereign bonds worth some US$2bn. Describing the issuance as “unprecedented” the government said that it was in two parts – one, for US$1.25bn at 3.160% interest which would expire in 2030 and another of US$750m with 3.870% which would expire in 2060. Cortizo said that the government received US$11bn in offers which he described as a sign of international confidence in his new administration which took office on 1 July.