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Panama's Banco La Hipotecaria to offer $4M in notes

Panama's Banco La Hipotecaria SA will offer two tranches of negotiable commercial securities for a total of $4 million.

The offerings include about $1.9 million in series DCR securities, which will be offered July 5, and about $2.1 million of series DCS notes to be offered July 10.

The offerings, which have a 360-day term and a 4.00% interest rate, are part of the bank's rotating program for negotiable commercial securities.

Funds from the offerings will be used to finance the growth of the bank's mortgage loan portfolio.