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Panama's Banco La Hipotecaria to offer 2 series of bonds worth $7.1M

Banco La Hipotecaria SA said it will auction two tranches of negotiable commercial securities under an existing rotating securities program worth up to $35.0 million.

The bank on March 28 plans to offer $3.0 million worth of 180-day series DCH bonds carrying a 3.25% rate. It also will auction about $4.1 million of the 360-day series DCI notes April 3, with a quarterly 4.00% interest rate.

Funds from the sale of the securities will be used to finance the growth of the issuer's mortgage loan portfolio, the Panama-based lender said.