Bladex Gets 2-Year Money in Asia

Panama-based multilateral lender Bladex has raised a $100m via a 2-year loan in Asia. The facility is co-led by China Development Dank and Mizuho and the margin is heard at less than 200bp. “This transaction is the first syndication placed in Asia by a Latin American financial institution, without mitigating the credit risk through the use of guarantees of any sort,” says Gregory Testerman, senior MD for treasury and capital markets for Bladex. “The loan enhances the diversification of Bladex’s financing sources, while further developing the bank’s presence in the Asian markets. Proceeds from this financing will be used to promote foreign trade, as well as the economic development of Latin America,” he adds. Bladex is in the process of raising a second in the loan market and seeking a better margin on the sequel.