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Banco Panamá to place 2 negotiable bond series

Banco Panamá SA plans to offer two series of negotiable bonds worth nearly $5.6 million, the company said in separate security filings.

The bank said it will on Aug. 11 offer up to $3,719,000 in one-year series AR bonds carrying an interest rate of 3.5%. The securities will be issued Aug. 15.

Banco Panamá will also auction on Aug. 14 up to $1,875,000 of one-month series AS bonds with an interest rate of 1.625%, which will be issued Aug. 16.

Both bond series are part of a $100 million bond issuance program.