Arnold & Porter represented the Republic of Panama in the first emerging market sovereign bond issuance since the emergence of the global COVID-19 pandemic. The Republic of Panama issued $2.5 billion of its 4.500% Global Bonds due 2056, in a deal that may open the capital markets for other emerging market issuers. Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC acted as underwriters for the offering.
Partner E. Whitney Debevoise led the Arnold & Porter transaction team, which included partner Gregory Harrington, counsel Carlos Pelaez, and associates Mateo Morris and Valentina Garzon.