PANAMA CITY, June 24, 2016 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank"; NYSE: BLX) announced the recent closing of a US$85 million, three year, syndicated loan facility in favor of Banco BAC San José, S.A. ("BAC San José"), the largest privately-owned bank in Costa Rica.
BAC San José is a subsidiary of BAC Credomatic Inc., a leading Central American banking group with operations in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Mexico. BAC Credomatic Inc. is a full-service financial institution with the leading credit card issuance and merchant-acquiring franchise in Central America. BAC Credomatic Inc. is owned by Grupo Aval Acciones y Valores S.A. (NYSE: AVAL), Colombia's largest banking group based on total assets.
Bladex acted as Joint Lead Arranger and Bookrunner under the Facility, together with Wells Fargo Securities, LLC. Bladex will also act as the Administrative Agent for this Facility.
BAC San José's first international syndication facility broadens its base of funding relationships, with the participation of nine financial institutions from Asia, the United States of America, South America, Central America and the Caribbean. Proceeds will be used for general corporate purposes.
Bladex is a multinational bank originally established in 1976 by the central banks of Latin-American and Caribbean countries 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)