Panama's Banco Aliado SA said it will offer bonds worth some $5.2 million on March 22 through two series of notes.

The BO bond series, worth nearly $2.1 million, carry a fixed annual interest rate of 3.00% for a six-month term, and will be issued March 26, according to a filing from the bank.

The BP bond series, worth about $3.1 million, has a one-year term with a fixed annual interest rate of 3.75% and will also be issued March 26.

Banco Aliado said it would use the proceeds from the debt offers to finance the expansion of its credit portfolio.