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Banco Internacional de Costa Rica to offer up to $3M in commercial securities

Banco Internacional de Costa Rica SA on Dec. 14 plans to offer up to $3.0 million of negotiable commercial securities, or VCNs, according to a regulatory filing.

The series FJ securities, which will be issued Dec. 18, will carry an effective interest rate of 3.50% and will mature after six months.

The Panama-based bank said that it plans to use funds from the offering to finance the growth of its loan portfolio.