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Default of Panama deal hits Hancock, CSFB

Bewaard in:
Gepubliceerd in:Asset - Backed Alert (Jun 25, 2001), p. 1-3
Hoofdauteur: Anonymous
Gepubliceerd in:
HARRISON SCOTT PUBLICATIONS
Onderwerpen:
John Hancock Life Insurance Co Credit Suisse First Boston Loomis Sayles & Co Inc
Panama
Bonds
Default
Construction industry
Bond ratings
Tolls
Roads & highways
Trucking industry
Investors
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Samenvatting:John Hancock Life, Credit Suisse First Boston, and Loomis Sayles & Co. hold the lion's share of the $126.5 million of bonds still outstanding from Pycsa Panama's offering, which is backed by tolls that drivers pay to use the Madden Segment and Northern Corridor highways near Panama City. A likely scenario will involve the construction of a $94 million extension connecting the northern corridor to the southern corridor, a move that Pycsa believes will make the thoroughfare more profitable.
ISSN:1520-3700
Bron:Accounting, Tax & Banking Collection