Bladex successfully leads the first syndication for Banco Guayaquil S.A. for US$89,000,000 3-year Senior Unsecured Amortizing Facility

Rhea-AI Summary

Banco Latinoamericano de Comercio Exterior, S.A. (Bladex; NYSE: BLX) announced the successful closing of a US$89 million 3-year Senior Unsecured Amortizing Facility for Banco Guayaquil S.A. This facility is the first international syndicated loan for Banco Guayaquil, with participation from 7 financial institutions across North America, Central, and South America. The funds will support portfolio growth and trade operations. Bladex is recognized for its structuring and distribution capabilities, enhancing its position in Latin America.

Positive

• Successfully closed a US$89 million Senior Unsecured Amortizing Facility for Banco Guayaquil.
• First international syndicated facility, enhancing Bladex's reputation in the market.
• Funds aimed at portfolio growth and trade operations for Banco Guayaquil.

Negative

• None.

PANAMA CITY, Dec. 27, 2022 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced today the successful closing of a US$89 million 3-year Senior Unsecured Amortizing Facility (the "Facility") for Banco Guayaquil S.A. ("Banco Guayaquil" or the "Company"). Bladex acted as Sole Lead Arranger and Bookrunner and shall act as the Administrative Agent for the Facility.

Banco Guayaquil is one of the largest banks in Ecuador, with more than 3 million clients and is the second biggest private bank.  It has a balanced portfolio composition between:  commercial loans to the productive sector 48% and the consumer sector 41%, mortgages 5% and microcredits 6%.

During 2021, Ecuador had a GDP growth of 4.2% per year, exceeding the initial growth projections of 3.5%, this increase was mainly due to: the recovery of the labor market, an increase in credit supply, and an increase in remittances. For 2022, GDP growth of 2.8% is expected, higher than the 2.5% previously expected, this growth would be driven by the recovery of investment and the dynamism of households, according to the Central Bank of Ecuador.

The deal constitutes the first international syndicated facility for Banco Guayaquil led by Bladex. The use of the facility will be used for portfolio growth and trade operations. The syndicated loan has the participation of 7 financial institutions from North America, Central, and South America, some of which represent new banking relationships for Banco Guayaquil.

Julio Mackliff, Executive Vice President of Banco Guayaquil, stated: "These new funds will propel development and innovation in our business clients. We highlight the strategic alliance provided by Bladex and investors, which, thanks to our good reputation and risk rating, as well as our financial indicators, trust our management and promote economic growth in the region".

Patricio Mainardi, Bladex´s Senior Vice President and Country Head of Ecuador, stated: "Bladex is very pleased to have successfully executed the first syndicated loan for Banco Guayaquil and to continuously support Banco Guayaquil's growth plans while securing long-term financing. This transaction marks the strong relationship, established in 2002 and is a landmark transaction for Ecuador. The Facility is a clear demonstration of Bladex's structuring and distribution capabilities, which is qualified to raise funds and access a wide network of financial institutions. Banco Guayaquil's Syndicated Facility adds to our credentials more than 70 transactions arranged in Latin America".

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:

Felipe Suarez – SVP, Head of Loan Structuring & Syndications
E-mail address: fsuarez@bladex.com
Head Office Address:  Torre V, Business Park, Ave. 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 purpose of the US$89 million facility for Banco Guayaquil?

The facility is intended to support portfolio growth and trade operations for Banco Guayaquil.

Who arranged the US$89 million loan for Banco Guayaquil?

Bladex acted as the Sole Lead Arranger and Bookrunner for the loan.

How many financial institutions participated in the Banco Guayaquil facility?

Seven financial institutions participated in the syndication of the facility.

When was the US$89 million facility for Banco Guayaquil announced?

The facility was announced on December 27, 2022.

What is the significance of this facility for Bladex and Banco Guayaquil?

This facility marks the first international syndicated loan for Banco Guayaquil and enhances Bladex's structuring capabilities in Latin America.