PANAMA CITY, April 28, 2021 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior, S.A. ("Bladex" or the
"Bank") today announced the successful closing of a
US$300 million 7-year senior secured
term loan (the "Facility" or the "Loan") for
Investment Energy Resources Limited, the holding company of CMI
Energía ("CMI Energía" or the "Company") as part of a
US$1.0 billion liability management
exercise, thus optimizing the Company's financial structure. The
Facility is guaranteed by the Company's main renewable energy
projects/subsidiaries and secured by shares of the majority of such
operating entities.
Owned by Corporación Multi Inversiones ("CMI" or the
"Group"), one of Central
America's largest agro-industrial conglomerates with
headquarters in Guatemala, CMI
Energía is the leading renewable energy player in Central America operating a portfolio of over
800MW of renewable assets. The Company currently has presence in
Guatemala, Honduras, El
Salvador, Nicaragua,
Costa Rica and the Dominican Republic.
The Loan was structured as a club deal among Bladex, Banco
Industrial and Banco Davivienda, acting together as Joint Lead
Arrangers. Bladex also acted as Loan Documentation Coordinator and
Administrative Agent under the Facility.
Jorge Salas, CEO of Bladex,
stated: "Bladex is very pleased to have worked together with CMI
and the other Joint Lead Arrangers in structuring this very
important facility for CMI. The transaction attests to Bladex's
capabilities to work on higher value-added financial solutions for
its customers, and is fully in line with the Bank's focus on
fostering growth and economic integration throughout Latin America. Moreover, this transaction has
positive environmental benefits, which is something that we are
increasingly looking to support as part of our business
activities."
The US$ 300 million Facility was
issued concurrently with a US$ 700
million 2029 Reg S / 144A green bond (the "Bond") to
refinance debt from renewable energy projects. The Bond represents
the Company's debut to the green bond international markets, and
the first corporate green bond from Central America & the Caribbean.
Corporación Multi Inversiones is a family-owned multilatina
company founded in 1920, with presence in 15 countries, operating
two main business groups: CMI Foods, engaged in the milling and
production of related consumer products, animal protein and
operating fast-food restaurant chains (+1,000 restaurant locations,
with Pollo Campero as the Group's
leading restaurant brand), and CMI Capital, which operates
renewable energy and real estate projects in addition to the
Group's financial services business.
Bladex, a multinational bank originally established by the
central banks of Latin-American and Caribbean countries, began operations in 1979
to promote foreign trade and economic integration in the Region.
The Bank, headquartered in Panama,
also has offices in Argentina,
Brazil, Colombia, Mexico, the United
States of America, and a Representative License in
Peru, supporting the regional
expansion and servicing of its customer base, which includes
financial institutions and corporations.
Bladex is listed on the NYSE in the
United States of America (ticker symbol: BLX), since 1992,
and its shareholders include: central banks, state-owned banks and
entities representing 23 Latin American countries, commercial banks
and financial institutions, and institutional and retail investors
through its public listing.
For further information on Bladex, please access its website at
www.bladex.com or contact:
Felipe Suárez - SVP, Head of Loan Structuring &
Syndications
Head Office Address: Torre V, Business Park, Avenida La Rotonda, Urb. Costa del Este,
Panama, Republic of Panama
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)