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Hipotecaria Metrocredit to offer bonds worth up to $4.2M

Hipotecaria Metrocredit, S.A. will offer two series of debt securities in the coming months, according to filings to Panama's financial regulator SMV.

On Feb. 19, the company will auction the two-year series V mortgage bonds for up to $1.2 million. The securities carry a fixed annual interest rate of 7.50% and will be issued on Feb. 21.

The Panamanian lender will on March 15 offer 360-day series AF commercial bonds worth $3.0 million with a fixed annual 6.75% rate.

Metrocredit intends to use the proceeds from the securities to expand its loan portfolio.