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Banvivienda to issue $5M in debt

Panama-based Banco Panameño de la Vivienda SA, or Banvivienda, plans to issue up to $5.0 million worth of commercial securities on Feb. 16, according to a prospectus filing.

The bank said the offering will include $2.5 million of series BL notes and the same amount in series BM notes. The 180-day BL debt will carry an interest rate of 3.375%, while the 360-day BM debt will carry a rate of 3.875%.

Proceeds from the offering, which is part of Banvivienda's $50 million debt program, will be used to improve the company's liquidity position and diversify its funding sources.