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Panama's Global Bank readies $5M commercial securities offering

Panama's Global Bank Corp. will offer up to $5.0 million in one-year negotiable commercial securities at an interest rate of 3.25%.

The series C-K notes will be issued June 4 and are part of the company's $100 million issuance program.

Proceeds from the offering, which will launch May 31, will be used to finance working capital for the bank's lending portfolio.