Bladex leads successful syndication of a US$250 million 2-Year Senior Unsecured Bridge Loan for AES Dominicana (Dominican Republic)

Dec 10, 2015, 16:30 ET from Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)

PANAMA CITY, Dec. 10, 2015 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank"; NYSE: BLX) announced the disbursement of a US$250 million, two year, syndicated loan in favor of AES Andres DR S.A. ("AES Andres") and Empresa Generadora de Electricidad Itabo, S.A. ("Itabo"), subsidiaries of AES Corporation (NYSE: AES) a Fortune 200 global power company which provides affordable, sustainable energy to 18 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.

Bladex acted as Joint Lead Arranger and Bookrunner under the Facility, together with Banco Popular Dominicano, S.A., who will also act as the Administrative Agent.

Alejandro Jaramillo, Head of Loan Structuring and Distribution at Bladex, stated: "We are extremely pleased to have worked in structuring and syndicating this important facility for AES's subsidiaries in the Dominican Republic. The transaction allowed AES Dominicana to undergo an efficient liability management exercise by leveraging on existing and new banking relationships. Additionally, we are very pleased to have partnered up with Banco Popular Dominicano, one of the leading banks in the Dominican Republic, in arranging the facility and bringing in strong appetite from regional investors. The deal was over-subscribed and up-sized from US$200 million to US$250 million due to strong investor demand."

The loan was launched and closed in less than one month, with the participation of 13 financial institutions from the Dominican Republic, Central America and the Caribbean. Proceeds of the loan were used to buy back senior notes issued by affiliates of AES Andres and Itabo, due in 2020.

Nicolas van Tienhoven, AES Mexico, Central America & Caribbean's Treasury Director, commented the following: "We are very grateful to Bladex and Banco Popular Dominicano for underwriting and arranging this transaction that had the strong support of local and regional banks. The loan was oversubscribed and is clear evidence of the resilience of the AES Dominicana credit that is the leading energy company in the Dominican Republic."

Edward Baldera, Vicepresident of Institutional and Investment Banking at Banco Popular Dominicano, stated: "We feel honored to have partnered up with Bladex and appreciate the confidence placed in us by AES Dominicana for this transaction. Banco Popular has been committed to finding innovative ways to support corporations that lead to sustainable growth and generate quality employment in the Dominican Republic."

Bladex is a multinational bank originally 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 of America (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, and institutional and retail investors through its public listing.

The Bank, headquartered in Panama, has 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.

For further information, please access Bladex's website at www.bladex.com or contact:

Mr. Christopher Schech, Chief Financial Officer Tel: (+507) 210-8630, E-mail address: cschech@bladex.com  Bladex, Head Office, Torre V, Business Park, Avenida La Rotonda, Urbanizacion Costa del Este, Panama, Republic of Panama

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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)



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