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Banco La Hipotecario to issue 2 tranches of commercial securities

Banco La Hipotecaria SA plans to issue two series of negotiable commercial securities under its $50.0 million rotating bond program.

The bank March 13 will offer up to $1.23 million in series P instruments, to be issued March 15. Meanwhile, series Q notes worth $1.0 million will be offered March 22 and issued March 26.

Both series of notes have a 360-day term and an interest rate of 3.875%.

Proceeds from both offerings will be used to finance the growth of the company's mortgage loan portfolio.