Bladex closes new Asian syndicated loan

Latinoamericano de Comercio Exterior SA, commonly called Bladex, recently announced that it has closed a three-year syndicated loan worth $175 million.

The facility included two tranches. First was a two-year extension for a syndicated loan by Mizuho in 2013, worth $103 million. The second was a three-year tranche worth $72 million provided by new lenders.

The transaction included banks from Taiwan, Japan and China as lead arrangers, and the mandated book-runner and lead arranger was Mizhuho Bank Ltd.

“We are very pleased to announce the completion of this new syndicated facility, which reaffirms Bladex’s strong franchise in the Asian Markets,” Christopher Schech, executive vice president and chief financial officer for Bladex, said. “It has been very gratifying for us to not only see the renewed commitment of existing lenders, but also the participation of new financial institutions. Mizuho’s expertise and extensive client coverage have been key enablers for this new transaction.”

Bladex, a multinational bank, was established in the Caribbean and Latin American nations to encourage financing of foreign trade and economic integration of the area.