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Banco La Hipotecaria eyes mortgage lending growth with $5M debt offering

Panama-based Banco La Hipotecaria SA said it will offer three series of bonds for up to $5.0 million on March 20 as part of the company's $100.0 million rotating notes program.

The bank will offer $2.0 million each of 1.5-year series AV debt and two-year series AW bonds, in addition to $1.0 million of three-year series AX notes, according to multiple regulatory filings.

The series AV notes will carry an interest rate of 4.125%, while the series AW and series AX notes will carry rates of 4.25% and 4.50%, respectively. All three series of bonds will be issued on March 22.

The bank plans to use proceeds from the offerings to finance the growth of its mortgage loan portfolio.