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La Hipotecaria looks to raise $8.8M in debt offerings

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La Hipotecaria looks to raise $8.8M in debt offerings

Banco La Hipotecaria SA plans to issue nearly $8.8 million worth of debt in the coming weeks under existing securities programs, the company said Dec. 6.

On Dec. 14, the Panamanian bank intends to issue $5.0 million worth of 360-day series D negotiable commercial securities under its existing $50 million program. It also plans to issue another $1.775 million worth of 360-day series E securities under that debt program on Jan. 2, 2018.

Both series of notes will carry an interest rate of 3.875%, with interest payable quarterly.

Separately, La Hipotecaria also plans to offer to $2.0 million in series AN negotiable notes under a $100 million medium-term note program. The two-year securities are set to be issued on Dec. 14 and will carry a 4.25% interest rate.