Bladex leads second successful syndication of a US$100,000,000 Senior Unsecured Term Loan Facility for Forum

Rhea-AI Summary

Banco Latinoamericano de Comercio Exterior (Bladex) has successfully closed a US$100 million senior unsecured syndicated term loan facility for Forum Servicios Financieros (Forum), a leading auto-financing company in Chile. Bladex served as the Sole Lead Arranger and Bookrunner, and will act as the Administrative Agent for the facility, which has a maturity of up to three years. The loan proceeds will be used for repayment of existing indebtedness. This marks the second international syndicated loan that Bladex has arranged for Forum. The transaction attracted commitments from financial institutions in multiple regions including Central and South America, the Caribbean, Asia, and the United States, forging new banking relationships for Forum.

Positive

• Successful closure of a US$100 million syndicated loan facility.
• Bladex served as Sole Lead Arranger and Bookrunner.
• Facility will enable Forum to repay existing indebtedness.
• Attracted commitments from diverse financial institutions in Central and South America, the Caribbean, Asia, and the United States.
• Marks the third syndicated loan arranged by Bladex in Chile.
• Strengthens Bladex’s distribution capabilities and access to a wide network of regional and international financial institutions.

Negative

• No specific negative business aspects detailed in the PR.

PANAMA CITY, June 12, 2024 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the "Bank"; NYSE: BLX) announced today the successful closing of a US$100 million senior unsecured syndicated up to 3 years (the "Facility") for Forum Servicios Financieros, S.A. ("Forum" or the "Company"). Bladex acted as Sole Lead Arranger and Bookrunner and shall act as the Administrative Agent for the Facility.

Established in 1993, Forum is the leading player in the auto-financing industry in Chile. The Company is a wholly owned subsidiary of BBVA and provides loans and auto-leases to natural persons and companies for the purchase of vehicles (light and heavy) and motorcycles. The Company has US$ 2.1 billion in total assets, and US$ 285 million in total equity and is rated AA- (local) by Fitch.

The deal constitutes the second international syndicated facility structured by Bladex for Forum. Proceeds from the Facility will be used for repayment of existing indebtedness.

Sebastián Barbarossa, Forum's CFO, stated: "We are thrilled to have finalized this new syndicate in collaboration with Bladex. This financing once again demonstrates Forum's ability to secure international funding and is a clear indication of the market's confidence in the Company."

The transaction attracted commitments of financial institutions from Central and South America, the Caribbean, Asia, and the United States, bringing new banking relationships for Forum.

Carlos De Alvear, Regional Head of South America and Mexico of Bladex stated: "Bladex is very pleased to have successfully executed the second international syndicated loan for Forum, which provides the Company access to new banking relationships and medium-term funding. This transaction marks the third syndicated loan arranged by Bladex in Chile and adds to Bladex's credentials of over 77 transactions arranged in Latin America, highlighting the Bank's distribution capabilities and its access to a wide network of regional and international financial institutions."

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 counts with 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.

For further information, please contact:

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

View original content:https://www.prnewswire.com/news-releases/bladex-leads-second-successful-syndication-of-a-us100-000-000-senior-unsecured-term-loan-facility-for-forum-302170020.html

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

FAQ

What is the value of the loan facility closed by Bladex for Forum?

Bladex closed a US$100 million senior unsecured syndicated term loan facility for Forum.

What will the proceeds from the Bladex loan facility be used for?

The proceeds from the facility will be used for the repayment of existing indebtedness.

Which regions did the financial institutions that committed to the Bladex loan facility come from?

The financial institutions came from Central and South America, the Caribbean, Asia, and the United States.

What is the duration of the term loan facility arranged by Bladex for Forum?

The term loan facility has a maturity of up to three years.

What role did Bladex play in the Forum loan facility transaction?

Bladex acted as the Sole Lead Arranger, Bookrunner, and will serve as the Administrative Agent for the loan facility.

How many syndicated loans has Bladex arranged in Chile including the one for Forum?

Bladex has arranged three syndicated loans in Chile including the one for Forum.