Apollo global has invested USD38m in private placement to fund an extension to the rapid transit system metro in Panama City.

(Latin Finance) Metro de Panamá has added to the financing for the extension of Line 2 of the rapid transit system in Panama City with a private placement for $38.1 million, according to a source close to the project.

US asset management Apollo Global Management and aliates acquired the zero-coupon notes that mature in 2023, the source added. UBS was the placement agent and Norton Rose Fulbright was the legal adviser to Apollo Global, he said.

Read more at Latin Finance.