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Banco Panamá readies $3M securities offering

Banco Panamá SA on July 3 will offer negotiable commercial securities for up to $3.0 million, according to a security filing.

The 357-day, series CE notes carry a fixed annual interest rate of 3.8750% and will be issued July 5. Interest will be paid quarterly.

The company said the proceeds from the offering will mainly be used for the growth of its productive assets and working capital.