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Banesco to sell $1.3M in negotiable commercial securities

Banesco SA on Dec. 27 plans to offer negotiable commercial securities for up to $1.29 million.

The series AI debt yields at an interest rate of 3.25% and has a term of six months. Interest will be paid every three months.

Proceeds from the sale of the securities will be used to support the financing of the expected growth of the company's loan portfolio, including corporate loans, residential mortgage credits and credit cards.