BLX - Bladex leads syndication of $101.5M loan facility for CrediQ

Banco Latinoamericano de Comercio Exterior (NYSE:BLX), known as Bladex for short, closes a $101.5M senior dual-tranche syndicated loan for Inversiones CrediQ Business, S.A. and its subsidiaries in Costa Rica and El Salvador. Bladex (BLX) acted as sole lead arranger and bookrunner and will be the administrative agent for the facility. CrediQ is the captive financial arm of GrupoQ, it finances the acquisition of vehicles primarily to SMEs and individuals in the middle- and lower-middle-income segments. The Company absorbs over 40% of GrupoQ's vehicle sales. The deal attracted the interest of 10 financial institutions from Central America, the Caribbean and South America, the majority of which represent new banking relationships for CrediQ and GrupoQ.   The transaction constitutes the first international syndicated facility led by Bladex for CrediQ. The facility was structured with a senior unsecured short-term tranche and a senior 5-year tranche secured with a portion of CrediQ's loan portfolio. Proceeds of the facility were used to support the growth

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Bladex leads syndication of $101.5M loan facility for CrediQ