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Panama's Hipotecaria Metrocredit to sell $5.5M in mortgage bonds

Panama's Hipotecaria Metrocredit SA will offer two series of 360-day mortgage debt securities in the coming months, according to filings with financial regulator SMV.

On April 18, the lender will offer the series AK bonds worth $500,000, to be issued April 20. Meanwhile, on May 17, Metrocredit will offer $5.0 million of series AL notes, which will be issued May 19.

Both series carry fixed annual interest rate of 6.75%. Metrocredit intends to use the proceeds from the offerings to expand its loan portfolio.