PANAMA CITY, Dec. 2, 2019 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank")
today announced the successful closing of a US$130 million 3-year senior, amortizing term
loan facility (the "Facility") for Banco Aliado, S.A. ("Banco
Aliado").
Established in Panama in 1992,
Banco Aliado is the leading Panamanian mid-sized general license
bank, ranking 4th largest in terms of total assets (US$2.6 billion as of June
30, 2019) and net loan portfolio (US$2.0 billion). The bank is 100% owned by
Grupo Aliado, S.A., a financial
group comprised of renowned Panamanian entrepreneurs with extensive
experience in foreign trade, ports, real estate, and tourism.
Bladex acted as Joint Lead Arranger and Bookrunner, together
with JPMorgan Chase Bank, N.A. ("J.P. Morgan") and Banistmo, S.A.
("Banistmo"), and will act as Administrative Agent under the
Facility.
The Facility was closed following Banco Aliado's acquisition of
Banco Panamá, S.A. ("Banco Panama"), the ninth largest
Panamanian-owned bank in terms of assets. The acquisition
consolidates Banco Aliado's position as a leading mid-sized
Panamanian bank, increasing its total assets by more than U$1.3
billion, while establishing a platform for future growth through
broadening the client base and leveraging Banco Panamá's retail
presence.
This transaction marks the fourth syndicated facility arranged
by Bladex for Banco Aliado, following a US$145 million medium-term facility successfully
closed in 2018, a US$59 million
senior term loan facility closed in 2016, and a US$80 million senior term loan facility closed in
2014.
The Facility was oversubscribed and attracted the interest of 16
financial institutions from Central
America and the Caribbean,
Europe, and the United States of America, some of which
represent new banking relationships for Banco Aliado.
Gabriel Tolchinsky, Chief
Executive Officer of Bladex, stated: "We are very pleased to have
had the opportunity to support Banco Aliado in structuring a
medium-term financing during its strategic acquisition and to have
teamed-up with J.P. Morgan and Banistmo. The success of the
transaction attests to Bladex´s strong origination, structuring and
syndication capabilities and its commitment to help its clients
grow their businesses in the Latin American region."
Moises Chreim, President of Banco
Aliado, S.A., indicated: "After 27 years of successful performance
in the financial sector, the acquisition of Banco Panamá was a
natural step for our consolidation in the bank market. Once more,
the support of Bladex, together with J.P. Morgan and Banistmo,
provided Banco Aliado with the security of funds in order to
execute this important transaction. We also appreciate the support
of each participant in the syndicated loan."
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 license of representation in
Peru, 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 on Bladex, please access its website at
www.bladex.com or contact:
Monica Cosulich – SVP, Finance
and Investor Relations
E-mail address: ir@bladex.com Tel.: (+507) 210-8563
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)