Banco Continental in Paraguay has received US$100mn syndicated loan co-arranged by the Dutch development bank FMO and Banco Latinoamericano de Comercio Exterior (Bladex).

The loan has an A/B structure of five and three years respectively. The A-loan is provided by the Belgian Investment Company for Developing Countries (BIO), Triodos Investment Management and the FMO, for aggregated amount of US$47mn in the A tranche. This will be used specifically for on-lending to small and medium enterprises.

The B-Loan amounts to US$53mn and was arranged by Bladex along with eight other international institutions, whose names are not disclosed. It will be used to support the general growth of Banco Continental’s loan portfolio.

 “The syndicated facilities allow us to diversify our sources of medium-term funding and facilitate the financing of sustainable investments and job creation, which contribute to the country’s economic and social development. The success of the transaction underscores the confidence of participating investors in the ample experience and solvency of Banco Continental,” says Teresa Gaona, director of Banco Continental.

This loan facility builds upon a US$50mn syndicated term loan, which was also co-arranged by FMO and Bladex for Banco Continental in 2014.