PANAMA CITY, Panama, Feb. 13, 2026 (GLOBE NEWSWIRE) -- The Republic of Panama ("Panama") announced today the Reference Yields for the Reference U.S. Treasury Securities, as of 2:00 p.m., New York City time, on February 13, 2026, for its previously announced offer to purchase for cash (the "Offer") its outstanding global bonds listed in the table below (the "Old Bonds"), made on the terms and subject to the conditions set forth in the Offer to Purchase, dated February 9, 2026 (the "Offer Document"). All capitalized terms used but not defined herein have the meanings specified in the Offer Document.

In accordance with the Offer Document, the Reference Yield for each series of Old Bonds was determined at 2:00 p.m., New York City time, on February 13, 2026. Based on such Reference Yields and the applicable Fixed Spread, the Tender Offer Yield and Purchase Price for each series of Old Bonds are set forth in the table below.

Old Bonds

Old Bonds

Security Identifier

Reference U.S. Treasury Security

Reference Yield

Fixed Spread (basis point)

Tender Offer Yield

Purchase Price(1)

8 7/8% U.S. Dollar-Denominated Global Bonds due 2027

CUSIP: 698299 AD6

T 3.500 01/31/2028

3.42

%

25

3.67

%

US$1,080.24

ISIN: US698299AD63

3.875% Global Bonds due 2028

CUSIP: 698299 BF0

T 3.500 01/31/2028

3.42

%

80

4.22

%

US$993.22

ISIN: US698299BF03

9.375% U.S. Dollar-Denominated Global Bonds due 2029

CUSIP: 698299 AK0

T 3.500 01/15/2029

3.46

%

50

3.96

%

US$1,156.77

ISIN: US698299AK07

3.160% Global Bonds due 2030

CUSIP: 698299 BK9

T 3.750 01/31/2031

3.62

%

85

4.47

%

US$953.31

ISIN: US698299BK97

7.500% Global Bonds due 2031

CUSIP: 698299 BX1

T 3.750 01/31/2031

3.62

%

80

4.42

%

US$1,133.24

ISIN: US698299BX19

2.252% Global Bonds due 2032

CUSIP: 698299 BN3

T 3.750 01/31/2031

3.62

%

140

5.02

%

US$845.99

ISIN: US698299BN37

3.298% Global Bonds due 2033

CUSIP: 698299 BR4

T 4.00 11/15/2035