Panama - Par Bond (Brady)

Panama - Par Bond

Par Bonds issued under the Brady Plan restructuring agreement.
Issuer:
The Republic of Panama
Guarantor:
None
Issue Size:
n/a
Maturity:
30 years
Interest Rate:
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%
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 three years