Panama To Buy Back Bradies

Panama is to buy back all its outstanding Brady bonds next month, taking advantage of a call option on July 17. The $352 million bonds in circulation comprise four series. Panama is following a now, well-trodden path in the region to improve its debt profile. Earlier this year Brazil announced its multi-billion dollar Brady buyback plan; Venezuela was due to buy back $3.9 billion of Bradies by the end of last month and Colombia announced it would spend $4.3 billion on repurchasing the paper this year.