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Panama's Banco Delta to offer $4M in bonds

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Panama's Banco Delta to offer $4M in bonds

Panama-based Banco Delta SA on Sept. 13 will offer bonds worth up to $4.0 million, according to separate securities filings.

The bonds will be issued in two series, worth $2.0 million each, on Sept. 15.

The four-year AH series notes carry a 6.25% interest rate and mature on Sept. 15, 2022. Meanwhile, the five-year AI series bonds carry a 6.50% rate and mature on Sept. 15, 2023.

Both issuances are part of a $30.0 million bond program, according to the filings dated Sept. 4. Banco Delta plans to use to the funds from the offering to finance business growth, and/or to cancel loans or other interest-bearing debt.