PANAMA
CITY, June 13, 2024 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank";
NYSE: BLX) announced the recent closing of a US$100 million three-year syndicated facility
(the "Facility") in favor of the Guatemalan bank Banco Promerica,
S.A. ("Banco Promerica Guatemala" or the "Bank"). Bladex was the
Sole Lead Arranger and Bookrunner, and Administrative Agent for the
Facility.
Banco Promerica Guatemala is one of the main subsidiaries of
Promerica Financial Corporation ("PFC Group"), a leading financial
banking group in Central America
with operations in Panama,
Guatemala, Costa Rica, Honduras, El
Salvador and Honduras, as
well as in the Dominican Republic,
Ecuador and Cayman Islands. The Bank is a full-service
financial institution with the leading credit card issuance in the
region.
The deal constitutes the biggest international syndicated
facility arranged yet, for Banco Promerica Guatemala and the
4th for the PFC Group. Bladex previously co-led the
financing of PFC's acquisition of the Guatemalan banking operations
in 2017.
The transaction attracted the interest of 13 financial
institutions from Europe,
Central America, South America and the Caribbean, of which 11 of them represent new
banking relationships for the Bank. Proceeds from the Facility will
be used to finance support the growth of its loan portfolio and
refinance short term debt.
Felipe Suarez, Head of Loan
Structuring & Syndications at Bladex, stated: "This transaction
demonstrates our capabilities to raise medium term financing in the
region and to bring new banking relationships, strengthening our
client's businesses".
Jorge Alberto Salas, Chief
Financial Officer of Banco Promerica, stated: "This
syndicated transaction represents an important endorsement for our
growth in the Guatemalan Financial System. We are committed to
continue strengthening our presence and to offer innovative
financial solutions to support of the economic progress of our
clients in Guatemala."
Bladex, a multinational bank originally established by
the central banks of Latin-American and Caribbean countries, initiated operations in
1979 to promote foreign trade finance and economic integration
in the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the
United States of America, supporting the regional expansion
and servicing its customer base, which includes financial
institutions and corporations.
Bladex is listed on the NYSE in the
United States of America (NYSE: BLX), since 1992, and its
shareholders include: central banks and state-owned banks and
entities representing 23 Latin American countries; commercial banks
and financial institutions; and institutional and retail investors
through its public listing.
At Grupo Promerica we believe that all individuals and
businesses in our communities should exceed their limits to achieve
the success they deserve. For more than 30 years, we have been
supporting a banking system that develops relationships and offers
products and services in nine countries: Guatemala, El
Salvador, Honduras,
Nicaragua, Costa Rica, Panama, the Dominican Republic, Ecuador, and Grand
Cayman.
We focus on maintaining permanent empathy within the communities
we serve, thereby developing long-lasting relationships based on
mutual trust. Our entrepreneurial spirit drives us to understand
and identify with each country where we operate developing a common
culture.
For further information, please contact:
Bladex:
Felipe Suarez
– SVP, Head of Loan Structuring & Syndications
E-mail address: fsuarez@bladex.com
Head Office Address: Torre V, Business Park, Ave. La Rotonda,
Urb. Costa del Este,
Panama, Republic of Panama
Banco Promerica, S.A.
Ana
Beatriz Flores - Directora General, Estratégica Comunicación
Corporativa
E-mail address: bflores@estrategica.com.gt
Phone: +502 2313-0700
Mobile: +502 3002-0671
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)