Bladex and Finanzauto Close ESG Syndicated Loan to Promote SME Development in Colombia

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Bladex (NYSE: BLX) has successfully closed a dual-currency syndicated loan worth US$53 million and COP 60,000 million for Finanzauto, a leading Colombian automotive finance company. The loan, which included participation from eight financial institutions, aims to support MSMEs development and ESG-focused projects in Colombia.

Finanzauto, a non-bank financial institution with over 50 years of experience and an AA- local rating from BCR Ratings, is Colombia's primary financier in the productive public service, cargo, passenger vehicles, and vans segment. The company is the first non-bank financing entity to receive B certification in Colombia.

The loan proceeds will enhance Finanzauto's strategy of providing sustainable financing solutions, focusing on small carriers and MSMEs, including access to cleaner vehicles, working capital, health, and education. This transaction reinforces Bladex's role in promoting foreign trade and regional integration in Latin America through innovative financial solutions and strategic partnerships.

PANAMA CITY, Jan. 22, 2025 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) (NYSE: BLX) has announced the successful closing of a US dollar and Colombian peso syndicated loan for US$53 million and COP 60,000 million, respectively, for Finanzauto S.A. BIC, a leading Colombian automotive finance company with a strong commitment to sustainable economic development.

The syndicated loan, structured and led by Bladex, included the participation of eight prestigious financial institutions from the region, thereby confirming the bank's ability to bring together strategic allies for the benefit of its customers' sustainable growth.

The proceeds of this operation will allow Finanzauto to deepen its strategy of granting loans for the development of MSMEs, promoting projects with a strong focus on ESG (environmental, social and governance) standards, and contributing to the strengthening of logistics and operations of MSMEs as the economic engine of the country.

With over 50 years of experience, Finanzauto has established itself as a benchmark in the non-bank financial market of Colombia. It is the first non-bank financing company to obtain the B certification in Colombia, currently has a local rating of AA- by BCR Ratings and stands out as the main financier in the country in the productive public service, cargo, passenger vehicles and vans segment.

"We are proud to join Finanzauto on this journey. This operation underscores our commitment to promote sustainable economic growth in Latin America through a loan in dollars and local currency, bringing eight new counterparties together to diversify Finanzauto's funding sources. In this way, Bladex continues to promote the growth of companies such as Finanzauto, an example of how companies can integrate sustainability standards into their business models and support the economic growth of MSMEs in Colombia," said Carlos de Alvear, Senior Vice President and Head of Mexico and South America of Bladex.

Recognized for its innovation and commitment to sustainability, the company is implementing a model that generates triple-impact value: economic, social and environmental, strengthening its position as a key player in the country's development.

An example of this is the consolidation of its sustainable financing portfolio, which focuses on key areas for small carriers and MSMEs, promoting opportunities for access to cleaner vehicles, as well as working capital, health and education.

Santiago Cleves Bayón, General Manager of Finanzauto highlighted that "this loan represents a milestone in our history, not only because of the resources it will contribute to our operations, but also because of the values we share with Bladex in terms of sustainability, governance and social responsibility. In this way, we are moving forward in our mission to be a catalyst for prosperity and progress for small cargo and passenger carriers in the country."

By leading this operation, Bladex reinforces its role as a facilitator of growth and development in Latin America, promoting projects that contribute to the region's economic well-being, structuring innovative financial solutions and attracting strategic allies. The Bank's ability to structure syndicated loans demonstrates its commitment to creating opportunities and promoting inclusive and sustainable growth.

Founded in 1979, Bladex's mission is to promote foreign trade and regional integration. Its network includes offices in Panama, Argentina, Brazil, Colombia, Mexico, the United States and a representative license in Peru. Bladex is listed on the New York Stock Exchange (NYSE: BLX) and has a shareholder base that includes central banks, state banks and representative bodies from 23 Latin American and Caribbean countries, as well as institutional and private investors.

For more information, please visit: www.bladex.com.

Contact:
Carlos de Alvear, Vicepresidente Senior – Red de Originación de Suramérica y México 
E-mail address:  cdealvear@bladex.com 

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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)

FAQ

What is the size and structure of Bladex's (BLX) syndicated loan to Finanzauto?

The syndicated loan consists of US$53 million and COP 60,000 million (Colombian pesos), structured with participation from eight financial institutions from the region.

How will Finanzauto use the BLX syndicated loan proceeds in Colombia?

The proceeds will be used to expand lending to MSMEs, support ESG-focused projects, and strengthen logistics and operations of small and medium enterprises in Colombia.

What is Finanzauto's current credit rating and market position in Colombia?

Finanzauto holds an AA- local rating from BCR Ratings and is the leading financier in Colombia's productive public service, cargo, passenger vehicles, and vans segment.

What ESG initiatives will the BLX syndicated loan support through Finanzauto?

The loan will support sustainable financing initiatives including access to cleaner vehicles, working capital, health, and education for small carriers and MSMEs.

How does this syndicated loan align with Bladex's (BLX) regional strategy?

The loan reinforces Bladex's commitment to promoting sustainable economic growth and regional integration in Latin America through innovative financial solutions and strategic partnerships.