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Panama's Capital Bank readies notes offering worth $5M

Panama-based Capital Bank Inc. on Dec. 13 will offer $5.0 million in negotiable commercial securities, or VCNs.

The series M notes have a term of 360 days and yield at an interest rate of 4.00%. They will be issued Dec. 15.

Proceeds from the offering will be used for the bank's working capital.

The offering is part of the bank's $50 million, rotating VCN program.