Banistmo Completes $50 Million USD Bond Issuance
In the first round of a planned $300 million USD series of corporate bond issuances, Banistmo, through its brokerage firm Valores Banistmo, has issued $50 million USD in the Panamanian capital market.
According to Medellín-based parent company Bancolombia, the funds raised will be used to finance the growth of the bank’s loan portfolio and diversify sources of funding. “This placement reaffirms confidence in the strength of the institution and Banistmo’s commitment to contributing to the development of local and regional capital markets,” added Bancolombia in a statement.
This issuance was co-structured by Banca de Inversión Banistmo and Banca de Inversión Bancolombia, and has received a local long-term rating of AAA (Pan) from big three credit rating agency Fitch Ratings.
Valores Banistmo has more than 1,500 clients throughout Latin America, primarily in Colombia and Panama, with some $2 billion USD in assets under management.
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