Panama's Global Bank Corp. will offer up to $10.0 million in perpetual corporate bonds at an interest rate of 6.75%.

The series C notes, which are convertible into common shares of the bank, will be issued May 29 and are part of the company's $250 million issuance program.

Proceeds from the offering, which will launch May 25, will be used as finance working capital for the bank's lending portfolio.