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Tocumen pays more for bond issue after glitch

Monday, May 16, 2016

After grueling on-off-on week, Tocumen, S.A., the public company that manages Panama’s Tocumen International Airport, finally managed to place bonds on the stock market for $575 million Friday to fund the expansion of the terminal.

They got less than they originally sought and will pay a higher rate of interest. Tocumen said the bonds were sold despite the uncertainty surrounding Grupo Wisa, which operates duty free shops at the airport and has been accused by the United States of money laundering.

Source: Newsroom Panama