Bladex Leads Syndicated Loan to Support Cemento Panam's Expansion in Panama

Rhea-AI Summary

Bladex (NYSE: BLX) announced the closing of a US$206 million syndicated term loan on October 7, 2025 to finance Cemento Panam's acquisition of CEMEX's operations in Panama. The 7-year loan was structured and initially fully underwritten by Bladex as Sole Lead Arranger & Bookrunner, with participation from BAC Panama and Global Bank. Bladex also serves as Administrative Agent and Collateral Agent for the facility.

The financing supports Cemento Panam, a subsidiary of Grupo Estrella, in expanding its cement business into Panama and underpins Bladex's stated role in structuring tailored cross-border financing solutions to promote regional economic development.

Positive

• Syndicated loan of US$206 million closed on Oct 7, 2025
• 7-year term provides multi-year financing tenor
• Bladex acted as Sole Lead Arranger & Bookrunner
• Bladex also appointed Administrative Agent and Collateral Agent
• Participation from BAC Panama and Global Bank
• Financing enables acquisition of CEMEX Panama operations by Cemento Panam

Negative

• None.

Insights

Credit Structuring Expert

Bladex led a $206 million, seven-year syndicated loan to fund Cemento Panam's acquisition of CEMEX Panama.

This transaction shows Bladex acting as Sole Lead Arranger, Bookrunner, Administrative Agent and Collateral Agent on a $206 million facility with a 7-year tenor and participation from BAC Panama and Global Bank, which transfers acquisition financing risk to a syndicated lender group while preserving underwriting and structuring fees for the arranger.

Key dependencies and risks include the borrower completing the CEMEX acquisition and executing integration plans; the lender group retains credit exposure over the 7-year term. Watch for covenant language, collateral scope, and repayment triggers over the first 12–36 months to gauge credit performance and potential provisioning. Expect material updates around transaction closing mechanics and any covenant waivers within the next 6–12 months.

PANAMA CITY, Oct. 7, 2025 /PRNewswire/ -- Bladex (NYSE: BLX) announced the successful closing of a syndicated loan totaling US$206 million in favor of Cemento Panam to finance the acquisition of CEMEX's operations in Panama.

The seven (7)-year term loan, structured and initially fully underwritten by Bladex (as "Sole Lead Arranger & Bookrunner"), included the participation of BAC Panama and Global Bank. Bladex also acts as Administrative Agent and Collateral Agent for the syndicated loan.

Cemento Panam is a subsidiary of Grupo Estrella, a Dominican conglomerate with more than four decades of experience that has consolidated its presence in the construction sector across several countries in the region. With this acquisition, Cemento Panam strengthens its international expansion strategy from the Dominican Republic and trusts Panama as a strategic destination to develop the cement business and seize new growth opportunities.

"This financing represents a strategic opportunity not only for our client, but also for Panama, where we trust that this transaction will help boost the construction sector and generate positive impacts on the local economy. Bladex is proud to support Cemento Panam and Grupo Estrella in this process, reaffirming our ability to structure tailor-made transactions for our clients," said Samuel Canineu, Chief Commercial Officer of Bladex.

For his part, Eng. Manuel Estrella, President of Grupo Estrella, stated: "We are very pleased to have Bladex's support in this new stage of expansion of our cement business. Panama is a market with great potential, and this acquisition allows us to strengthen our commitment to the development of the cement industry and to support the country in the major infrastructure projects that are to come."

This syndicated loan highlights Bladex's structuring and underwriting capabilities, reinforcing its mission of promoting economic development in Latin America through financing for strategic regional groups seeking to grow beyond their borders, contributing to the integration and competitiveness of the region.

About Bladex

Bladex is a multinational bank established in 1979 by the central banks of Latin America and the Caribbean to promote trade finance and economic integration in the region. Headquartered in Panama, with representative offices in Argentina, Brazil, Colombia, and Mexico, and a representative agency in the United States, the Bank provides financial solutions to institutions and corporations throughout the region. Bladex has been listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on the Mexican Stock Exchange for over a decade. Its shareholder base includes central banks, government entities, and banks from twenty-three Latin American countries, as well as institutional and private investors. www.bladex.com          

Contact: 
Andrea Cuadrado
SVP of Loan Structuring & Syndications, 
Email: acuadrado@bladex.com  
www.bladex.com
@bladexlatam

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

FAQ

What did Bladex (BLX) announce on October 7, 2025 regarding Cemento Panam?

Bladex announced the closing of a US$206 million syndicated 7-year loan to finance Cemento Panam's acquisition of CEMEX's Panama operations.

How long is the loan Bladex arranged for Cemento Panam (BLX-related transaction)?

The syndicated term loan has a 7-year maturity.

What roles did Bladex (BLX) play in the US$206M Panama financing?

Bladex acted as Sole Lead Arranger & Bookrunner and serves as Administrative Agent and Collateral Agent.

Which banks participated alongside Bladex in the Cemento Panam loan announced Oct 7, 2025?

The facility included participation from BAC Panama and Global Bank.

What is the purpose of the US$206 million loan tied to BLX activity?

The loan finances Cemento Panam's acquisition of CEMEX's operations in Panama to support the company's expansion.

How does this transaction relate to Grupo Estrella's strategy?

The financing supports Grupo Estrella's subsidiary Cemento Panam in expanding its cement business into Panama as part of its international growth.