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Multibank to issue $1M in new debt

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Multibank to issue $1M in new debt

Multibank Inc. on March 26 plans to offer $1.0 million in two-year bonds carrying an interest rate of 3.25%, the company said in a securities filing.

The Panamanian bank plans to use the proceeds from the series Q notes, which are scheduled to be issued March 28, to finance the growth of its own credit activities.

The funds will be used by the issuer to finance the growth of its credit activities.

The issuance is part of the bank's corporate bonds program worth up to $150.0 million.