PANAMA
CITY, Nov. 27, 2023 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior - Bladex
(NYSE:BLX), announced today the successful closing of a
US$368 million A/B Loan Facility,
under IDB Invest´s A/B Loan Structure, and US$27 million associated Debt Service Reserve
Letter of Credit Facility.
Bladex acted as Joint Lead Arranger and Bookrunner for the
A/B Facility, co-leading the structuring and syndication together
were IDB Invest, JP Morgan and Scotiabank . While the Debt Service
Reserve Letters of Credit have been provided by Bladex, JP Morgan
and Scotiabank proceeds from the A/B Facility have been used to
refinance the existing debt associated with three operating
renewable energy projects, and will also be used to fund
construction of three additional photovoltaic facilities. Total
capacity of the portfolio is expected to reach 390 MW by 2024.
The transaction marks the second Facility co-led by Bladex for
AES' renewable energy operations in the Dominican Republic (and the third for AES),
reinforcing Bladex's strong commitment to supporting AES group in
the region.
The facility was fully underwritten by the Joint Lead Arrangers
and Bookrunners. Following a successful syndication, the
transaction was 2.2x oversubscribed with US$482.5 million commitments from 22 banks.
The syndicate group included Latin American regional banks,
Caribbean banks, an impact
investor and the Latin American branch of an Asian Bank, of which
the majority are Bladex's partner relationships.
"Bladex is very pleased to support AES renewable energy´s
endeavors in the Dominican
Republic. This transaction underlines Bladex´s project
finance execution capabilities, the strong relationship with a
leading global power generation and distribution player and,
overall, our appetite for infrastructure assets. The Facility adds
to Bladex credentials of more than 70+ syndicated transactions
arranged by Bladex in the Latin American Region" Ivan Nuñez, Head
of Infrastructure and Project Finance of Bladex.
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.
AES Corp. is a leading global energy company at the
forefront of sustainable and innovative power solutions. With a
strong commitment to advancing clean energy, AES specializes in
power generation, distribution, and storage. The company operates
in various regions worldwide and is known for pioneering renewable
energy technologies and grid solutions. AES plays a crucial role in
reducing carbon emissions and promoting a more sustainable future
by generating electricity from sources like wind, solar, and
hydroelectric power, while also integrating cutting-edge energy
storage systems. Through its dedication to innovation and
sustainability, AES contributes significantly to the transition
towards cleaner and more environmentally friendly energy sources,
making a positive impact on both the energy industry and the
planet.
For further information, please contact:
Bladex:
Felipe Suarez –
SVP, Head of Loan Structuring & Syndications
E-mail address: fsuarez@bladex.com
Head Office Address: Torre V, Business Park, Ave. La Rotonda,
Urb. Costa del Este,
Panama, Republic of Panama
www.bladex.com
Iván Núñez – SVP, Head of Infrastructure and Project Finance
E-mail address: inunez@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 to download
multimedia:https://www.prnewswire.com/news-releases/bladex-acts-as-joint-lead-arranger-and-bookrunner-for-aes-dominicana-renewable-energy-us368m-non-recourse-term-loan-and-us27m-reserve-letter-of-credit-facilities-301997542.html
SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)