Banco Continental de Panama, the country’s third largest, has signed a US$300mn revolving credit facility with lead banks.

Arrangers for the loan are bookrunners HVB and Calyon, with Bladex, Fortis, Natexis Banque and Wachovia.

Banco Nacional de Panama, Bank of Tokyo-Mitsubishi and Citibank were managers.

The loan is divided into two tranches: a two-year A tranche priced at Libor plus 37.5bp and a three-year B tranche priced at 52.5bp over Libor.