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Hipotecaria Metrocredit to offer $1M in bonds

Hipotecaria Metrocredit SA said it plans to offer two series of bonds worth up to $1.0 million in the coming weeks.

The Panama-based lender will auction the 360-day series AG bonds, which carry a fixed annual interest rate of 6.75%, on Feb. 19.

On March 26, the company plans to offer the 360-day series AH securities, which also carry a 6.75% fixed rate. Each series of bonds are worth up to $500,000, according to regulatory filings.

Hipotecaria Metrocredit plans to use the proceeds from the offerings for working capital and the expansion of its credit portfolio.