Bladex acted as Joint Lead Arranger and Bookrunner under the Facility, together with Wells Fargo Securities, LLC.
Alejandro Jaramillo, Head of Loan Structuring and Distribution at Bladex, stated: "We are extremely pleased to have successfully structured and syndicated this important facility for Scotiabank Costa Rica, and at the same time to have teamed-up with a strong partner like Wells Fargo. We are particularly pleased that this syndicated loan allowed Scotiabank Costa Rica to further diversify its funding sources."
The facility attracted several financial institutions from Asia, North America, Latin America, the Caribbean and Europe, broadening the bank's funding sources. The facility was upsized to US$125 million from an original amount of US$75 million due to strong investor demand. The proceeds of the facility will be used to support Scotiabank Costa Rica´s loan portfolio growth.
Mario Vásquez, Scotiabank Costa Rica´s Treasury Director, made note of the fact that most of the investors are new banking relationships for Scotiabank Costa Rica. "The interest from international financial institutions to participate in this credit facility for Scotiabank Costa Rica was so relevant that in the end it significantly surpassed the loan amount that was initially foreseen and it allowed us to obtain more funding resources—still within our funding needs and in line with our projections for disbursements and diversification of funding sources."
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, operates throughout the Region with offices in Argentina, Brazil, Colombia, Mexico, Peru, and the United States of America, to support the expansion and servicing of its client 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, state-owned banks and entities representing 23 Latin American countries, as well as commercial banks and financial institutions, institutional and retail investors through its public listing.
For further information, please access Bladex's website at www.bladex.com or contact:
Mr. Christopher Schech, Chief Financial Officer
E-mail address: firstname.lastname@example.org, Tel.: (+507) 210-8630
Head Office Address: Torre V, Business Park, Avenida La Rotonda, Urb. Costa del Este, Panama, Republic of Panama
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)