Banco Panameño de la Vivienda SA plans to auction bonds worth $2.5 million Feb. 26 under its debt program of $50.0 million.

The one-year series CJ notes carry a 3.875% interest rate and will be issued Feb. 28, the Panama-based bank, known as Banvivienda, said in a securities filing.

Proceeds from the offering will be used to expand the company's productive assets.