Banco Panamá SA on Dec. 22 will offer negotiable commercial securities for up to $500,000.

The series BE bonds carry a rate of 3.25% and have a term of six months. They will be issued Dec. 27.

The funds will be used by the issuer for growth of its productive assets, working capital, investment in property, machinery and furniture as well as in restructuring debts and financial commitments.

The offering is part of the bank's 100.0 million revolving public program for negotiable commercial securities.