Bancoldex Syndicates $120m Loan

Colombia’s Bancoldex is syndicating a two-tranche $120m loan to finance its lending business. A $70m 1-year tranche A will pay Libor plus 20bp, though investors can expect to receive an up front fee of on average 20bp, depending on the ticket size. A 3-year tranche B pays 37.5bp over Libor, increasing to 70bp over after the up-front. Standard Chartered and Wachovia are leading the deal, and have garnered commitments from up to two institutions, according to executives close to the transaction.