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Panama's Prival Finance to offer up to $47.6M in bonds

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Panama's Prival Finance to offer up to $47.6M in bonds

Panama's Prival Finance SA will offer two series of five-year debt securities March 26, according to filings to financial regulator SMV.

The company plans to offer series N notes worth up to $26.0 million and series O bonds worth $21.6 million. Both sets of securities carry a fixed annual 8.50% interest rate and will be issued March 28.

The company said it will use the proceeds from the offering to finance real estate development on Isla la Pinta, which is part of the Galápagos Islands group of Ecuador.