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Banco La Hipotecaria to offer up to $4M in debt

Banco La Hipotecaria SA said it plans to offer up to $4.0 million in bonds in the coming days, according to regulatory filings.

The Panamanian lender on March 6 will offer series AT and AU notes worth $622,000 and $1.4 million, respectively, under its $100.0 million rotating notes program.

The series AT notes carry an interest rate of 4.00% and have a term of 1.5 years, while the series AU bonds yield at an interest rate of 4.25% and mature after 2 years. Both will be issued March 8.

In addition, series O notes worth $2.0 million will be offered March 8, under a $50.0 million bond program. The notes, to be issued March 12, have an interest rate of 3.00% and a term of 180 days.

Funds from the sale of the notes will be used to finance the growth of the issuer's mortgage loan portfolio.