PANAMA
CITY, June 27, 2024 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior ("Bladex", or "the
Bank", NYSE: BLX) announced today the successful structuring
of a syndicated loan for US$665
million, consisting of a US$600
million tranche for 12 months and a US$65 million revolving line for 3 years (the
"Facility") for Internacional de Cerámica, SAB de CV.
("Interceramic" or "the Company"). Bladex
acted as Joint Lead Arranger and Bookrunner along with other
financial institutions that participated in the transaction.
Established in 1979 in Chihuahua,
Mexico, Interceramic is a leading company dedicated
to the production and commercialization of glazed ceramic tiles for
floors and walls, as well as complementary related products in
Mexico, the United States, Guatemala, and China. Interceramic distinguishes
itself from its competitors by being the leader in quality,
innovation, and service of ceramic products, offering the public an
extensive range of high-quality products that feature the most
innovative designs and models on the market.
The funds from the facility will be used to finance the
repurchase of shares through a Public Tender Offer (OPA in
Spanish), to delist the company from the Mexican Stock Exchange.
Additionally, the funds will be used for the early repayment of a
syndicated loan that the company currently has in place.
The transaction was oversubscribed 1.4 times the loan amount and
received final participation from more than 12 Mexican and
international banks.
Jorge Guemez, Country Manager of
Bladex Mexico, stated: "Bladex is very pleased to have successfully
executed the international syndicated loan for Interceramic, which
provides the Company with the necessary funds to finance the share
acquisition and thus delist it from the Mexican Stock Exchange.
This transaction represents the sixth syndicated loan led by Bladex
in Mexico and contributes to the
credentials of more than 78 structured transactions in Latin America, highlighting the Bank's
distribution capacity as well as its access to a wide network of
regional and international financial institutions."
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.
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
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)
