Panama's Banco La Hipotecaria SA plans to offer $2 million in bonds carrying 4.25% annual interest, the bank said in an exchange filing.

The two-year, Z-Series bonds will be issued Feb. 7. The sale is part of the bank's $100 million, medium-term bond issuance program approved in January 2016, according to the bank.

In December 2016, it offered $1.7 million in 5-year bonds at an annual interest rate of 5% and $5 million in 360-day bonds at 3.875%.

Banco La Hipotecaria is a part of La Hipotecaria (Holding) Inc.