(Bladex, 26.Dec.2018) — Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) announced the recent closing of a $75 million, senior unsecured, amortizing 3-year term loan facility in favor of YPF Energía Eléctrica S.A.
YPF EE is the fifth largest private electricity generator in the Argentina through its thermal energy plants and wind farms. The company is owned by YPF S.A. (rated B+/ B2/ B), Argentina’s largest integrated energy company with a leading position in the oil and gas sector and by General Electric Corporation Inc (rated BBB+/ Baa1/ BBB+).
The Loan was structured as a club deal between Bladex and Industrial and Commercial Bank of China (Argentina), S.A. which together acted as Joint Lead Arrangers. Bladex is also the Administrative Agent under the Facility.
The proceeds of the Facility will be used to finance the company’s capital expenditures for energy generation projects, in addition to general corporate purposes.
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, Peru, and the United States of America, supporting the regional expansion and servicing its customer base, which includes financial institutions and corporations.
Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.