Banco Latinoamericano de Comercio Exterior (Bladex) has finalised a US$59mn three-year senior unsecured syndicated loan facility for Panama-owned Banco Aliado.

Bladex acted as the facility’s sole lead arranger, bookrunner, and administrative agent. The transaction attracted international financial institutions from China, Curaçao, Panama, Switzerland, Trinidad and Tobago, and the US.  The facility’s amount was upsized from its original target of US$50mn, it will be used to expand Banco Aliado’s loan portfolio.

The deal constitutes the second facility of this kind arranged by Bladex in the last two years for Banco Aliado. “The success of this transaction underscores Bladex’s continued growth in the Latin American syndicated loan space, and its access to a wide network of regional and international financial institutions,” says a company statement.

Established in 1992, Banco Aliado is the fourth-largest financial institution in Panama in terms of assets and net loan portfolio. The bank is fully owned by Grupo Aliado, which comprises Panamanian entrepreneurs with experience in local and foreign trade, and has offices in Argentina, Brazil, Colombia, Mexico, Peru, and the US.