Bladex leads successful syndication of a US$100,000,000 3-Year Senior Unsecured Term Loan Facility for Unifin

Rhea-AI Summary

Bladex has successfully closed a US$100 million senior unsecured syndicated loan facility for Unifin, marking its fourth international facility for the company. The loan, oversubscribed at 2.0x, demonstrates strong demand, exceeding the initial target of US$50 million. Proceeds will support Unifin's corporate purposes and expand its medium-term funding, enhancing its loan portfolio growth. Unifin, a leading independent leasing company in Latin America, holds a market cap of US$700 million and is publicly listed on the BMV.

Positive

• Successful closing of a US$100 million loan for Unifin.
• 2.0x oversubscription allowed upsize from US$50 million to US$100 million.
• Strengthened financial relationships for Unifin with new banking partners.
• Proceeds will enhance Unifin's loan portfolio growth.

Negative

• None.

PANAMA CITY, Oct. 5, 2021 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced today the successful closing of a US$100 million 3-year senior unsecured syndicated loan (the "Facility") for Unifin Financiera, S.A.B. de C.V. ("Unifin" or the "Company"). Bladex acted as Sole Lead Arranger and Bookrunner and shall act as the Administrative Agent for the Facility.

Listed on the Mexican Stock Exchange ("BMV"), Unifin was founded in 1993 by Rodrigo Lebois and is currently a leading independent operating leasing company in Latin America. Unifin operates as a non-banking financial services company specializing in three main business lines: operating leases, factoring, and lending (auto and others) for small and medium-sized enterprises ("SME's") in Mexico. The Company has a market capitalization of approximately US$700 million and is rated BB by Fitch and BB- by Standard & Poor's (both international scale).

The deal constitutes the fourth international syndicated facility led by Bladex for Unifin. Proceeds from the Facility will be used for general corporate purposes.

The transaction attracted commitments of financial institutions from Central and Latin America, the Caribbean, Europe, Asia, and the United States, of which many represent new banking relationships for Unifin.  There was a 2.0x oversubscription, which allowed the Company to upsize the facility amount to US$100 million from its original target of US$50 million.

Felipe Suarez, Head of Loan Structuring and Syndications of Bladex, stated: "We are very pleased to have successfully executed this important transaction for Unifin, which has provided the Company access to new banking relationships and medium-term funding, supporting its loan portfolio growth. This Facility adds to Bladex's important footprint in the Latin American syndicated loan space, highlighting its distribution capabilities and its access to a wide network of regional and international financial institutions."

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, also counts with offices in Argentina, Brazil, Colombia, Mexico, and the United States of America, supporting the regional expansion and servicing its customer 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 and 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, please contact:

Bladex:
Felipe Suarez – SVP, Head of Loan Structuring & Syndications
E-mail address: fsuarez@bladex.com Tel.: (+507) 210-8594
Head Office Address:  Tower V, Business Park, Avenue La Rotonda, Costa del Este,
Panama, Republic of Panama

Unifin:
David Pernas – Investor Relations and Corporate Finance Officer
E-mail address:  david.pernas@unifin.com.mx; unifin.ri@unifin.com.mx, Tel.: +52 (55) 4162.8270
www.unifin.com.mx

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

FAQ

What was the amount of the loan facility closed by Bladex for Unifin?

Bladex closed a US$100 million loan facility for Unifin.

What was the original target amount for the loan facility before it was upsized?

The original target amount for the loan facility was US$50 million.

How many times was the loan facility oversubscribed?

The loan facility was oversubscribed by 2.0x.

What is the market capitalization of Unifin?

Unifin has a market capitalization of approximately US$700 million.

What are the primary business lines of Unifin?

Unifin specializes in operating leases, factoring, and lending for SMEs.