Contact us (+ 7 (921) 446-25-10)
×
Texting is available for authorized users.
Please register or log in at the website.
×
Your request for online training has been sent. Cbonds managers will be in touch with you shortly. Thank you!

Panama: bonds

Internal Debt
At December 31, 2012, Panama’s public sector internal debt represented approximately 24.4% of the total public sector debt. A substantial portion of total public sector internal debt is extended by public sector sources, such as CSS and official banking institutions, and BNP in particular. As of December 31, 2012, Panama’s public sector internal debt totaled approximately $3,482.8 million, an increase of $1,579.0 million from December 31, 2011. This increase was due to the issuance of $1,364.0 of a new domestic bond maturing in 2022, as part of the Market Makers Program. Panama’s public sector internal debt as a percentage of GDP was 9.6% as of December 31, 2012.
External Debt
As of December 31, 2012, total public sector external debt was approximately $10.8 billion, down from $10.9 billion as of December 31, 2011. Panama’s public sector external debt as a percentage of GDP was 29.7% as of December 31, 2012, as compared to 34.8% as of December 31, 2011. As of March 31, 2013, total public sector external debt was approximately $11.0 billion, up from $10.8 billion as of December 31, 2012. Panama’s public sector external debt as a percentage of GDP was 30.4% as of March 31, 2013, as compared to 29.7% as of December 31, 2012.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
USD 21 19 732 917 000
JPY 1 41 500 000 000
corporate
USD 647 15 375 166 000
CHF 2 175 000 000
EUR 1 1 000 000 000
JPY 1 8 000 000 000

News and comments

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Global *** International scale rating (foreign curr.) ***
Dagong Global *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Registration required. Please log in or fill in the registration form.

Latest bond issues

issue ISIN coupon volume end of placement maturity date
Promerica Financial Corporation, 9.7% 14may2024, USD - International bonds USP7922BAA63 9.7% 200 000 000  USD 11/08/2018 05/14/2024
Aeropuerto Internacional De Tocumen, 6% 18nov2048, USD - International bonds USP0092AAD11 6% 875 000 000  USD 11/07/2018 11/18/2048
Panama, 4.5% 16apr2050, USD - International bonds US698299BH68 4.5% 1 750 000 000  USD 10/18/2018 04/16/2050
Banco Bilbao Vizcaya Argentaria(Panama), 5.875% perp., EUR - International bonds ES0813211002 5.875% 1 000 000 000  EUR 09/18/2018
Hipotecaria Metrocredit, 8% 21aug2022, USD (U) - Domestic bonds PAL157732OU8 8% 500 000  USD 08/21/2018 08/21/2022
Banistmo, 4.25% 16aug2021, USD (B) - Domestic bonds PAL302181JB2 4.25% 20 635 000  USD 08/16/2018 08/16/2021
Banistmo, 5% 16aug2023, USD (C) - Domestic bonds PAL302181JC0 5% 13 800 000  USD 08/16/2018 08/16/2023
Banco La Hipotecaria, 4.25% 15aug2020, USD (I) - Domestic bonds PAL341781NI9 4.25% 4 000 000  USD 08/15/2018 08/15/2020
Panacredit, 7.75% 15aug2023, USD (G) - Domestic bonds PAL329181BG7 7.75% 1 000 000  USD 08/15/2018 08/15/2023
Hipotecaria Metrocredit, 7.5% 14aug2020, USD (Q) - Domestic bonds PAL157732OQ6 7.5% 1 000 000  USD 08/14/2018 08/14/2020

World Bond market statistics

Quarterly indices

Type I 2018 IV 2017 III 2017 II 2017 I 2017 IV 2016 III 2016
BIS volume of international-bond market of emerging countries
Panamanian international bonds, USD bln 22.600 22.700 22.600 21.500 20.300 20.100 19.800
BIS net issues of international-bond market of emerging countries
International-bond net issue of Panama, USD bln -0.100 0.100 1.100 1.100 0.200 0.400 0.000

New issues of Emerging markets International Bonds

Monthly indices

Type Oct 2018 Sep 2018 Aug 2018 Jul 2018 Jun 2018 May 2018 Apr 2018
Emerging Markets International Bonds (Latin America)
New issues of Panama international bonds, USD bln 0.550 1.167 0.000 0.000 0.000 0.225 1.200
Number of Panama new international bond issues 1 1 0 0 0 1 1
show other indices

Yearly indices

Type 2017 2016 2015 2014
Annual new International Bonds issues (Latin America)
Annual new issues of Panama sovereign international bonds, USD bln 1.422 1.000 1.250 1.250
Annual new issues of Panama corporate international bonds, USD bln 1.422 1.000 1.250 1.250
Annual new issues of Panama corporate international bonds, (financial sector) USD bln 1.666 0.623 0.625 0.685
Annual new issues of Panama corporate international bonds, (non-financial sector) USD bln 0.000 0.650 0.750 0.000

Emerging Markets International Bonds

Monthly indices

Type Oct 2018 Sep 2018 Aug 2018 Jul 2018 Jun 2018 May 2018 Apr 2018
Volume of Latin American International Bonds Markets
Panama international bonds, USD bln 22.407 21.902 20.754 20.760 20.803 20.996 20.769
Panama corporate international bonds, USD bln 22.407 21.902 20.754 20.760 20.803 20.996 20.769
Panama sovereign international bonds, USD bln 15.491 14.938 14.947 14.944 14.947 14.955 14.953
show other indices

Currencies

Daily indices

Type: 11/16/2018 11/15/2018 11/14/2018 11/13/2018 11/12/2018 11/09/2018 11/08/2018
Exchange Rates (Emerging Markets)
USD/PAB 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
show other indices

Credit Risk Indicators

Daily indices

Type: 11/16/2018 11/15/2018 11/14/2018 11/13/2018 11/12/2018 11/09/2018 11/08/2018
CDS Panama (Interactive Data)
CDS 6M Panama 11.7300 11.5400 11.0600 11.1300 11.0100 10.9700 10.7300
CDS 1Y Panama 16.2900 16.0200 15.3600 15.4500 15.2900 15.2200 14.8900
CDS 2Y Panama 23.3100 22.9300 22.0000 22.1300 21.9100 21.8300 21.3600
CDS 3Y Panama 34.9300 34.3700 32.9700 33.1700 32.8300 32.6900 31.9900
CDS 4Y Panama 48.8800 48.1000 46.1500 46.4200 45.9600 45.7900 44.8200
CDS 5Y Panama 65.2900 64.2500 61.6600 62.0100 61.4000 61.2100 59.9200
CDS 7Y Panama 88.6200 87.3400 84.1400 84.5600 83.8200 83.5600 81.9700
CDS 10Y Panama 111.0800 109.7000 106.2200 106.6600 105.8500 105.4600 103.7300
CDS 15Y Panama 128.0000 126.6800 123.3300 123.7400 122.9600 122.5200 120.8500
CDS 20Y Panama 136.3500 135.0900 131.8800 132.2600 131.5000 131.0700 129.4700
CDS 30Y Panama 144.0500 142.8900 139.8800 140.2200 139.5100 139.0600 137.5600
Default Probability Panama (Interactive Data)
6M Default Probability Panama 0.0900 0.0900 0.0900 0.0900 0.0900 0.0900 0.0900
1Y Default Probability Panama 0.2400 0.2400 0.2300 0.2300 0.2300 0.2300 0.2200
2Y Default Probability Panama 0.6600 0.6500 0.6300 0.6300 0.6300 0.6300 0.6100
3Y Default Probability Panama 1.4700 1.4500 1.3900 1.4000 1.3900 1.3900 1.3600
4Y Default Probability Panama 2.7400 2.7000 2.5900 2.6100 2.5900 2.5800 2.5300
5Y Default Probability Panama 4.5600 4.4900 4.3200 4.3500 4.3100 4.3100 4.2200
7Y Default Probability Panama 8.5700 8.4600 8.1600 8.2100 8.1500 8.1400 8.0000
10Y Default Probability Panama 15.0000 14.8400 14.4100 14.4800 14.3900 14.3600 14.1500
15Y Default Probability Panama 24.7300 24.5400 24.0000 24.0700 23.9700 23.9100 23.6600
20Y Default Probability Panama 33.4300 33.2200 32.6200 32.7000 32.5900 32.5100 32.2400
30Y Default Probability Panama 47.9300 47.7200 47.0800 47.1600 47.0400 46.9500 46.6700
show other indices

Subscription "Cbonds-Premium", "Cbonds-Trial", "Cbonds Premium Partner", "Enhanced access Cbonds-Premium", "Cbonds-Premium Personal Light", "Cbonds-Premium Personal" required. Subscribe/Get trial access

Macroeconomic Indicators (World economy)

Monthly indices

Type Sep 2018 Aug 2018 Jul 2018 Jun 2018 May 2018 Apr 2018 Mar 2018
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Panama) 0.80 1.10 1.30 1.20 0.80 0.80 0.60
show other indices

Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Panama) 39.20 39.10 37.10

JP Morgan

Daily indices

Type: 10/30/2013 10/29/2013 10/28/2013 10/25/2013 10/24/2013 10/23/2013 10/22/2013
EMBI Global (publication was suspended since 30.10.2013) 
EMBI Global Panama * * * * * * *
show other indices

Subscription "Cbonds-Premium", "Cbonds-Trial", "Cbonds Premium Partner", "Enhanced access Cbonds-Premium", "Cbonds-Premium Personal Light", "Cbonds-Premium Personal" required. Subscribe/Get trial access

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Panama, 1.810% 25jan2021, JPY   JPY 01/25/2021 05/18/2016 ***.*** *.** 05/18/2016 ***.**** *.**
Panama, 10.75% 15may2020, USD   USD 05/15/2020 05/18/2016 * 05/18/2016 *** *.**
Panama, 3.75% 16mar2025, USD   USD 03/16/2025 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Panama, 3.875% 17mar2028, USD   USD 03/17/2028 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Panama, 4% 22sep2024, USD   USD 09/22/2024 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Panama, 4.3% 29apr2053, USD   USD 04/29/2053 05/18/2016 **.* *.** 05/18/2016 **.** *.**
Panama, 5.2% 30jan2020, USD   USD 01/30/2020 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Panama, 6.7% 26jan2036, USD   USD 01/26/2036 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Panama, 7.125% 29jan2026, USD   USD 01/29/2026 05/18/2016 ***.* *.** 05/18/2016 ***.*** *.**
Panama, 8.125% 28apr2034, USD   USD 04/28/2034 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Panama, 8.875% 30sep2027, USD   USD 09/30/2027 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Panama, 9.375% 16jan2023, USD   USD 01/16/2023 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Panama, 9.375% 1apr2029, USD   USD 04/01/2029 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Aes Panama, 6% 25jun2022, USD   USD 06/25/2022 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Aes Panama, 6.35% 21dec2016, USD   USD 12/21/2016 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Banco General, 1.625% 18jun2018, CHF   CHF 06/18/2018 05/18/2016 **.** *.** 05/18/2016 **.** *.**
Banco Latinoamericano de Comercio Exterior, 3.25% 7may2020, USD   USD 05/07/2020 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Banco Latinoamericano de Comercio Exterior, 3.75% 4apr2017, USD   USD 04/04/2017 05/18/2016 *** *.** 05/18/2016 *** *.**
Canal de Panama, 4.95% 29jul2035, USD   USD 07/29/2035 05/18/2016 *** *.** 05/18/2016 ***.** *.**
Empresa Nacional de Autopistas, 4.95% 25apr2023, USD   USD 04/25/2023 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Global Bank Corp, 3% 26nov2018, CHF   CHF 11/26/2018 05/18/2016 **.** *.** 05/18/2016 ***.** *.**
Global Bank Corp, 4.75% 5oct2017, USD   USD 10/05/2017 05/18/2016 ***.*** *.* 05/18/2016 ***.*** *.**
Global Bank Corp, 5.125% 30oct2019, USD   USD 10/30/2019 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Minera Panama, 8.75% 1jun2020, USD   USD 06/01/2020 05/18/2016 **.*** **.* 05/18/2016 **.*** *.**
Tocumen International Airport, 5.75% 9oct2023, USD   USD 10/09/2023 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
* Registration required. Please log in or fill in the registration form.
minimizeexpand
Cbonds is a global fixed income data platform
  • Cbonds is a global data platform on bond market
  • Coverage: more than 170 countries and 250,000 domestic and international bonds
  • Various ways to get data: descriptive data and bond prices - website, xls add-in, mobile app
  • Analytical functionality: bond market screener, Watchlist, market maps and other tools
×