Bladex leads successful syndication for Banco Promerica


Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex” or “the Bank”; NYSE: BLX) announced the recent closing of a US$100 million three-year syndicated facility (the “Facility”) in favor of the Guatemalan bank Banco Promerica, S.A. (“Banco Promerica Guatemala” or the “Bank”). Bladex was the Sole Lead Arranger and Bookrunner, and Administrative Agent for the Facility. 

Banco Promerica Guatemala is one of the main subsidiaries of Promerica Financial Corporation (“PFC Group”), a leading financial banking group in Central America with operations in Panama, Guatemala, Costa Rica, Honduras, El Salvador and Honduras, as well as in the Dominican Republic, Ecuador and Cayman Islands. The Bank is a full-service financial institution with the leading credit card issuance in the region. 


The deal constitutes the biggest international syndicated facility arranged yet, for Banco Promerica Guatemala and the 4th for the PFC Group. Bladex previously co-led the financing of PFC’s acquisition of the Guatemalan banking operations in 2017. 


The transaction attracted the interest of 13 financial institutions from Europe, Central America, South America and the Caribbean, of which 11 of them represent new banking relationships for the Bank. Proceeds from the Facility will be used to finance support the growth of its loan portfolio and refinance short term debt.  


Felipe Suarez, Head of Loan Structuring & Syndications at Bladex, stated: “This transaction demonstrates our capabilities to raise medium term financing in the region and to bring new banking relationships, strengthening our client’s businesses”.


Jorge Alberto Salas, Chief Financial Officer of Banco Promerica, stated:  "This syndicated transaction represents an important endorsement for our growth in the Guatemalan Financial System. We are committed to continue strengthening our presence and to offer innovative financial solutions to support of the economic progress of our clients in Guatemala.”


Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, initiated operations in 1979 to promote foreign trade finance and economic integration in the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, 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.


At Grupo Promerica we believe that all individuals and businesses in our communities should exceed their limits to achieve the success they deserve. For more than 30 years, we have been supporting a banking system that develops relationships and offers products and services in nine countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, the Dominican Republic, Ecuador, and Grand Cayman.


We focus on maintaining permanent empathy within the communities we serve, thereby developing long-lasting relationships based on mutual trust. Our entrepreneurial spirit drives us to understand and identify with each country where we operate developing a common culture.


For further information, please contact:


Felipe Suarez – SVP, Head of Loan Structuring & Syndications
E-mail address:
Head Office Address:  Torre V, Business Park, Ave. La Rotonda, Urb. Costa del Este,
Panama, Republic of Panama 


Banco Promerica, S.A.
Ana Beatriz Flores - Directora General, Estratégica Comunicación Corporativa
Oficina +502 2313-0700
Móvil +502 3002-0671

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