PANAMA CITY, Nov. 8, 2013 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex", or "the Bank", NYSE: BLX) announced today the closing of a US$125 million syndicated Pre-Export Finance Facility in favor of Guatemalan-based Ingenio Magdalena S.A., one of the largest sugar producers and exporters in Guatemala and one of the largest exporters of refined sugar in Latin America, with a diversified business mix that includes energy generation and the production of hydrous alcohol.
Bladex was the Sole Lead Arranger, Bookrunner, and Administrative/Collateral Agent under the transaction. Participating banks include several leading financial institutions based in Europe, New York, Central America and Brazil.
The transaction, closed at the end of October 2013, was launched at US$100 million but up-sized by the client to US$125 million due to over-subscription.
Mr. Alejandro Jaramillo, Head of Loan Structuring & Distribution at Bladex stated, "This important transaction continues to demonstrate Bladex's skills and commitment in providing financial solutions to its clients—in this case financing the exports of one of the leading sugar producers in Latin America. The Bank continues to strengthen its Structuring & Distribution team, and it is well-positioned to arrange syndications that respond to its clients´ medium-term financing needs."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. Bladex is listed on the NYSE-Euronext in the United States (ticker symbol: BLX). Bladex´s shareholders include central banks, state-owned banks and entities representing 23 Latin American countries, as well as commercial banks and financial institutions, institutional and retail investors through its public listing.
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