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Bladex Leads Syndication of $40MM Term Loan for Banco Financiero

December 29, 2014, 07:19 AM
Filed Under: Trade Finance

Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex") announced the closing of a U.S.$40 million, 36-Month Senior Secured Trade Finance Term Loan for Peruvian-based Banco Financiero del Peru S.A. ("Banco Financiero" or the "Borrower"). Banco Financiero is the sixth largest bank in Peru, in terms of assets and loan portfolio. The bank is part of Grupo Financiero Pichincha, Ecuador's largest financial institution with a track-record of over 100 years.

Bladex was the sole lead arranger and bookrunner of the transaction. The Bank is also the administrative agent and the collateral agent under the facility.

Proceeds will be used to support the growth of Banco Financiero's trade-related operations. The Facility's structure includes a pledge over a portion of the Borrower's trade finance portfolio.

The transaction represents the first syndicated loan in the international markets for Banco Financiero, successfully broadening the bank's medium-term sources of funding. The Facility attracted the interest of several financial institutions based in Panama, China, Curacao, and Germany, most of which are supporting Banco Financiero for the first time with medium-term funding. 

Bladex is a Panama-based supranational bank established by the central banks of Latin-American and Caribbean countries, to promote foreign trade finance and economic integration in the region.

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