Bladex Successfully Leads Syndication of $101.5M Two-Tranche Senior Facility for CrediQ

PANAMA CITY, February 7, 2022 /PRNewswire/ — Banco Latinoamericano de Comercio Exterior, SA (“lamex“or the”Bank“;NYSE:BLX) today announced the successful closing of a $101.5 million senior double-tranche syndicated loan (the “Ease“) for Inversiones CrediQ Business, SA and its subsidiaries in Costa Rica and El Salvador (“CreditQ“or the”Society“). lamex was the sole lead manager and bookrunner, as well as the administrative agent of the facility.

Established in 1991, CreditQ is the captive financial arm of GrupoQ, one of the leading car dealerships in central America with 70 years of experience and operations in Costa Rica, El Salvador, Honduras, Nicaragua and Guatemala. CreditQ finances the acquisition of vehicles mainly for SMEs and individuals in the middle and lower middle income segments. The Company absorbs more than 40% of GrupoQ’s vehicle sales.

The transaction is the first international syndicated loan led by lamex for CreditQ.

Ease was structured with a short-term unsecured senior tranche and a secured 5-year senior tranche with a CrediQ’s Loan portfolio. Proceeds from the facility were used to support the growth of the Business loan portfolio Costa Rica and refinance the existing debt of its subsidiaries by Costa Rica and El Salvador.

The transaction attracted the interest of 10 financial institutions in central Americathe Caribbean and South Americathe majority of which represent new banking relationships for CreditQ and GrupoQ.

Francis Henriquez, Chief Financial Officer of CreditQ commented: “For CreditQ it is imperative to have a balanced and well-diversified liability structure that matches the duration of our assets, while allowing for net growth in the long-term interest margin. The financial solution presented by lamex to our strategic plans, materialized an opportunity to start new banking relationships, and thus opened up new financing frontiers for our companies. We are grateful with lamex for the successful closing of this syndication, as we look forward to consolidating our business model in the Central America region.”

Andrea CuadradoVice President of the Loan Structuring and Syndications team at lamexsaid, “Bladex is very pleased to have successfully supported CreditQ in securing tailor-made financing that meets the Business short- and medium-term needs and diversifying its sources of financing through new banking relationships. This transaction marks the fifth syndicated loan completed by Bladex for a Latin American non-bank financial institution (NBFI) in the past two years, accumulating more than US$640 million in arranged transactions, which speaks to the Bank’s deep understanding of the NBFI segment and its strong structuring and distribution capabilities in the Latin American loan syndication space. »

lamexa multinational bank originally created by the central banks of Latin America and Caribbean country, launched operations in 1979 to promote foreign trade finance and economic integration in the region. The Bank, whose head office is in Panamaalso counts with offices in Argentina, Brazil, Colombia, Mexicoand The United States of Americasupporting regional expansion and serving its customer base, which includes financial institutions and corporations.

lamex is listed on the NYSE in The United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and public banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.

For more information, please contact:

Felipe Suarez – SVP, Head of Loan Structuring and Syndications
E-mail address: [email protected]
Head office address: Torre V, Business Park, Ave. La Rotonda, Urb. East Coast,
Panama, Republic of Panama

SOURCE Banco Latinoamericano de Comercio Exterior, SA (Bladex)

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