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Multibank plans $2M bond offering

Multibank Inc. on Feb. 21 plans to offer $2.0 million in one-year bonds carrying an interest rate of 3.0%, the company said in a securities filing.

The Panamanian bank plans to use the proceeds from the series E notes to finance the growth of its own credit activities. The bonds are scheduled to be issued Feb. 23.

The issuance is part of the bank's corporate bonds program worth up to $200 million.