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Towerbank International to offer $2.5M in bonds

Panama's Towerbank International Inc. said it plans to issue one-year bonds worth about $2.5 million.

The series X bonds will be offered Dec. 5 and issued Dec. 7. They carry an interest rate of 3.75% and will mature Dec. 2, 2018.

The offering is part of the bank's rotating commercial securities program for up to $20 million.