Originally earmarked for $625 million, the bond for Tocumen
International Airport was pared back after the U.S. Treasury
Department accused members of the Waked family of running a
money laundering operation that helped drug traffickers.
The Wakeds, who have denied the accusations, control Grupo Wisa,
a holding company that includes real estate, construction and
media businesses, as well as retailers including operators of
duty free shops at Tocumen International.
The airport said that last year, rents from Grupo Wisa made up
7.7 percent of its revenue.
The coupon on the bond, which is due to mature in 2036, was
raised to 5.625 percent from 5.375 percent.
The U.S. Treasury's Office of Foreign Assets Control (OFAC)
alleged that the operation, led by two members of the Waked
family, helped various drug trafficking outfits hide their
illicit income via 68 companies including Grupo Wisa.
Separately on Friday, the U.S. Treasury said it had issued
licenses authorizing certain transactions to be carried out by
Balboa Bank & Trust, which was seized by Panama's banking
regulator as part of the money-laundering investigation.
In the statement, the U.S. Treasury Department said it had also
issued licenses to Balboa Securities, Corp. It did not give
details on why the licenses had been issued.
(Reporting by Elida Moreno and Enrique Pretel; Editing by
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