PANAMA CITY, Jan. 29, 2014 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced the closing of a US$75 million, 12-Month Senior Unsecured Term Loan Facility for Panama-based Banco Internacional de Costa Rica S.A. ("BICSA"). Owned by Banco de Costa Rica and Banco Nacional de Costa Rica, the two largest state-owned banks in Costa Rica, BICSA has a strong footprint in Central America, with representative offices in Costa Rica, El Salvador, Guatemala, and Nicaragua, in addition to an agency in Miami.
Bladex was the Sole Lead Arranger, Bookrunner, and Administrative Agent for the Facility.
The transaction, which marks the first syndicated loan in the international markets for BICSA, attracted several financial institutions based in Brazil, Colombia, Chile, United States, and Panama. The transaction was structured as a bridge financing facility leading to a local bond issuance, and was disbursed in the first week of January 2014.
Alejandro Jaramillo, Head of Loan Structuring & Distribution at Bladex stated, "The successful closing of this transaction reflects Bladex's long-standing commitment to supporting financial institutions in Latin America, and adds to the Bank's growing franchise in the Region's syndicated loan space. Bladex has led a series of syndicated loans in the recent past in support of corporate clients and financial institutions aiming to grow in the Region".
Bladex is a Panama-based supranational bank established by the central banks of Latin-American and Caribbean countries, to promote foreign trade finance and economic integration in the Region. Bladex is listed on the NYSE-Euronext in the United States (ticker symbol: BLX).
Bladex's 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.
The Bank has offices in Argentina, Brazil, Colombia, Mexico, Panama, Peru, and the United States of America, to support the expansion and servicing of its client base, which includes financial institutions and corporations.
For more information, please access our website at www.bladex.com or contact: Mr. Christopher Schech, Chief Financial Officer Bladex Business Park Torre V, Piso 5 / Avenida La Rotonda / Urbanizacion Costa del Este Panama City, Panama Tel: (+507) 210-8630 E-mail address: email@example.com
SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)