BLX - Bladex leads syndication of $127.5M loan facility for BBVA auto lending unit

Banco Latinoamericano de Comercio Exterior (NYSE:BLX), known as Bladex for short, closes a $127.5M dual tranche senior unsecured loan, consisting of a $78M senior unsecured three-year tranche A loan and a $49.5M senior unsecured four-year tranche B loan for Forum Servicios Financieros SA. Bladex (BLX) acted as sole lead arranger and bookrunner and will be the administrative agent for the facility. Forum, an auto financing company in Chile, is a wholly owned subsidiary of BBVA (NYSE:BBVA) and provides loans and auto leases to people and companies for the purchase of vehicles. Forum has $1.8B in total assets and $331M in total equity. The transaction received commitments from financial institutions based in Central and South America, the Caribbean, Europe, Asia, and the U.S., with many representing new banking relationships for Forum. There was a 1.8x oversubscription, which allowed Forum to increase the facility amount to $127.5M from its original target of $70M. SA contributor Tomas Andrade

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Bladex leads syndication of $127.5M loan facility for BBVA auto lending unit