PANAMA CITY, Jan. 11, 2017 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced today the recent closing of a US$150 million, senior unsecured, amortizing term loan facility (the "Facility" or the "Loan") in favor of Banco de Costa Rica.
Established in 1877 and owned by the government of Costa Rica since 1948, BCR is the oldest bank in Costa Rica and, currently, the second largest bank in terms of assets, with a 20% market share.
The Facility was structured as a club deal between Bladex and Credit Suisse, which together acted as Joint Lead Arrangers. Bladex is also the Administrative Agent under the Facility.
The proceeds of the Facility will be used for trade-related purposes and to refinance certain existing indebtedness. Additionally, this transaction broadens BCR's funding base.
Bladex is a multinational bank originally established in 1979 by the central banks of Latin-American and Caribbean countries in order to promote foreign trade finance and economic integration in the Region. The Bank, headquartered in Panama, also counts with offices in Argentina, Brazil, Colombia, Mexico, Peru, 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 access Bladex's website at http://www.blx.com or contact:
Irma Garrido Arango - Senior Vicepresident, Corporate Development and Investor Relations
E-mail address: email@example.com, Tel.: (+507) 210-8559
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)