Panama’s BG Rumored Plotting Local Perp

Panama’s BG Financial Group is planning to sell $250m in perpetual bonds to finance growth plans, according to a Dow Jones report, which cites a filing with the Panamanian Stock Exchange. The group’s banking subsidiary Banco General will issue the bonds on the local exchange this week, the report states. Proceeds will be used to fund the bank’s commercial, mortgage and consumer lending businesses in Panama and abroad, it adds.