Banistmo issues $300 million in Corporates Bonds

Banistmo issued in the Panamanian capital market the first series of bonds of the Corporate Bonds Revolving Program for up to USD $300 million.

The issue has a long-term local rating of AAA (bread) granted by Fitch Ratings and was co-structured by Banca de Inversión Banistmo and Banca de Inversión Bancolombia.

The funds raised from the issue will be used by Banistmo to finance the growth of the loan portfolio and diversify its funding sources.

The placement of USD $50 million over a period of 5 years reaffirms confidence in the strength of the institution and Banistmo’s commitment to contribute to the development of local and regional capital markets, the bank said in a statement.