Panama Files $2.5bn Debt Shelf

Panama has filed a debt shelf with the SEC to issue up to $2.5bn in debt securities and warrants. It does not give any details regarding a specific offering, but plans to use proceeds for general government purposes, including debt refinancing. Panama has been tipped to take advantage of favorable issuing conditions for sovereigns, particularly after getting a positive outlook on its BB+ rating from S&P this week. In March, Panama reopened its 7.25% of 2015 bonds for $323m through Morgan Stanley and UBS, shortly after filing a $500m shelf in February.