Bladex co-leads successful syndication of a US$223 million 5-year senior, secured acquisition finance Facility for Central American banking group Grupo Promerica

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• Latin America - español

PANAMA CITY, Nov. 3, 2016 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced today the recent closing of a US$223 million 5-year senior, secured, amortizing Acquisition Finance Facility (the "Facility" or the "Loan") in favor of Panamanian-based Promerica Financial Corporation ("PFC").

PFC is the holding company of Grupo Promerica, a group of 9 banks with operations in Central America, Dominican Republic, Ecuador and Cayman Islands, with combined assets of US$11.6 billion as of September 30, 2016.

Proceeds of the loan were used to support PFC´s acquisition of Citibank´s consumer credit card and consumer retail banking businesses in Guatemala. With this acquisition, Grupo Promerica will strengthen its position in Guatemala, reaching total assets of US$1.6 billion and becoming the 7^th largest bank (in terms of assets) in the country (from its current 10th position).  Grupo Promerica´s assets now amount to US$12.3 billion.

Bladex acted as Joint Lead Arranger and Bookrunner, along with Credit Suisse and Deutsche Bank. Bladex is also the Administrative Agent and the Collateral Agent under the Facility.

The transaction attracted interest from 11 financial institutions from Central America and the Caribbean, in addition to the Joint Lead Arrangers and Bookrunners.

Alejandro Jaramillo, Head of Loan Structuring & Distribution at Bladex, stated: "The success of this transaction yet again demonstrates Bladex's strong origination, structuring and syndication capabilities, and the Bank´s commitment to support its clients´ growth plans. Having provided financing for Promerica´s 2014 acquisition of Produbanco (Ecuador), this transaction marks the second syndicated facility co-led by Bladex. We are very pleased to support the strengthening of Grupo Promerica´s regional footprint, and to have teamed-up with Credit Suisse and Deutsche Bank to structure and syndicate the Facility."

Francisco Martínez, Managing Director of Grupo Promerica, stated:  "Once again Bladex has executed flawlessly and has proven to be an extremely reliable partner providing financing solutions to Promerica in support of our growth strategy."

Bladex is a multinational bank originally established in 1979 by the central banks of Latin-American and Caribbean countries in order 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, Peru, 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 access Bladex's website at www.bladex.com or contact:

Irma Garrido Arango - Senior Vicepresident, Corporate Development and Investor Relations
E-mail address:  [email protected], Tel.: (+507) 210-8559
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)

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