Bladex acts as Joint Lead Arranger in a US$300 million, Senior, Secured, Term Loan Facility for Investment Energy Resources Ltd.

Rhea-AI Summary

Banco Latinoamericano de Comercio Exterior (Bladex) announced the closing of a US$300 million senior secured term loan for Investment Energy Resources Limited (CMI Energía) as part of a US$1.0 billion financial optimization strategy. The loan, guaranteed by CMI Energía's renewable energy projects, aims to strengthen the Company's financial structure. CMI Energía is a leading renewable energy player in Central America, operating over 800MW of assets. This transaction also marks CMI's debut in the green bond market with a concurrent US$700 million issuance.

Positive

• Successful closure of a US$300 million loan enhances CMI Energía’s financial stability.
• Loan secured against significant renewable energy projects, providing assurance to investors.
• CMI Energía's debut in the green bond market with a US$700 million issuance reflects growth in sustainable financing.

Negative

• None.

PANAMA CITY, April 28, 2021 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank") today announced the successful closing of a US$300 million 7-year senior secured term loan (the "Facility" or the "Loan") for Investment Energy Resources Limited, the holding company of CMI Energía ("CMI Energía" or the "Company") as part of a US$1.0 billion liability management exercise, thus optimizing the Company's financial structure. The Facility is guaranteed by the Company's main renewable energy projects/subsidiaries and secured by shares of the majority of such operating entities.

Owned by Corporación Multi Inversiones ("CMI" or the "Group"), one of Central America's largest agro-industrial conglomerates with headquarters in Guatemala, CMI Energía is the leading renewable energy player in Central America operating a portfolio of over 800MW of renewable assets. The Company currently has presence in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and the Dominican Republic.

The Loan was structured as a club deal among Bladex, Banco Industrial and Banco Davivienda, acting together as Joint Lead Arrangers. Bladex also acted as Loan Documentation Coordinator and Administrative Agent under the Facility.

Jorge Salas, CEO of Bladex, stated: "Bladex is very pleased to have worked together with CMI and the other Joint Lead Arrangers in structuring this very important facility for CMI. The transaction attests to Bladex's capabilities to work on higher value-added financial solutions for its customers, and is fully in line with the Bank's focus on fostering growth and economic integration throughout Latin America. Moreover, this transaction has positive environmental benefits, which is something that we are increasingly looking to support as part of our business activities."

The US$ 300 million Facility was issued concurrently with a US$ 700 million 2029 Reg S / 144A green bond (the "Bond") to refinance debt from renewable energy projects. The Bond represents the Company's debut to the green bond international markets, and the first corporate green bond from Central America & the Caribbean.  

Corporación Multi Inversiones is a family-owned multilatina company founded in 1920, with presence in 15 countries, operating two main business groups: CMI Foods, engaged in the milling and production of related consumer products, animal protein and operating fast-food restaurant chains (+1,000 restaurant locations, with Pollo Campero as the Group's leading restaurant brand), and CMI Capital, which operates renewable energy and real estate projects in addition to the Group's financial services business.    

Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, began operations in 1979 to promote foreign trade and economic integration in the Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United States of America, and a Representative License in Peru, supporting the regional expansion and servicing of its customer base, which includes financial institutions and corporations.

Bladex is listed on the NYSE in the United States of America (ticker symbol: BLX), since 1992, and its shareholders include: central banks, 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 on Bladex, please access its website at www.bladex.com or contact:

Felipe Suárez - SVP, Head of Loan Structuring & Syndications
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)

FAQ

What is the significance of Bladex's recent loan facility for CMI Energía?

Bladex closed a US$300 million loan to optimize CMI Energía's financial structure as part of a US$1.0 billion initiative.

When was the loan facility for CMI Energía announced?

The loan facility was announced on April 28, 2021.

What amount was issued in the green bond alongside the loan?

A US$700 million green bond was issued concurrently with the loan.

What does the loan facility signify for CMI Energía's presence in renewable energy?

It reinforces CMI Energía's leading role in renewable energy in Central America, supporting over 800MW of assets.

What is the ticker symbol for Bladex on the NYSE?

The ticker symbol for Bladex is BLX.