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Banco Aliado to issue 5 bond series worth up to $19M

Panama's Banco Aliado SA said that it will auction several bond series in the coming weeks under its rotating corporate bonds program worth $100.0 million.

Banco Aliado on March 28 plans to sell up to $1.0 million of six-month BQ series of bonds with a fixed annual interest rate of 3.00%, up to $8.0 million of one-year BR series notes carrying a fixed rate of 3.75%, up to $4.0 million in two-year BS notes with a fixed rate of 4.125%, and up to $3.0 million of three-year BT notes with a fixed rate of 4.50%.

The four series of securities all will be issued on April 2.

Meanwhile, on April 5, Banco Aliado will offer one-year BU bonds worth up to $3.0 million and carrying a 3.75% fixed annual rate. They will be issued on April 9.

Proceeds from the sale of the bonds will be used to finance the growth of the issuer's credit portfolio.