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Panama's Banvivienda to offer $4M in bonds

Banco Panameño de la Vivienda SA said March 8 that on March 13 it plans to auction securities worth up to $4.0 million.

The 180-day series BN securities carry an interest rate of 3.375% and will be issued March 15.

Banvivienda, as the Panamanian bank is known, will use the funds generated by the offering to provide liquidity and diversify its funding.

The issuance is a part of Banvivienda's negotiable commercial securities program worth up to $50.0 million.