Bladex Leads US$86 Million Syndicated Loan to Support Grupo Monge's Business

Core Insights - Banco Latinoamericano de Comercio Exterior (Bladex) successfully closed a US$86 million syndicated loan for Grupo Monge, which was oversubscribed by 70% above the original amount, highlighting a strong relationship between the two entities [1][3][5] Company Overview - Grupo Monge has over 50 years of experience in Central America and operates 664 stores across five countries: Costa Rica, Guatemala, Honduras, Nicaragua, and El Salvador, focusing on durable goods and consumer finance [2] - The company emphasizes financial inclusion, particularly for unbanked and low-income sectors, facilitating access to essential durable goods [2][5] Loan Details - The syndicated loan, structured and led by Bladex, included participation from prominent regional banks, reinforcing Bladex's role in financing customer growth [3][4] - The funds will support Grupo Monge's strategy to finance micro-loans for individuals and small businesses, enhancing financial inclusion in the informal economy [4][6] Strategic Impact - The loan will enable Grupo Monge to expand its reach to unbanked and low-income individuals and families, providing financing for essential items such as motorcycles and electronics [5][6] - Bladex's commitment to economic development in Latin America is underscored by its ability to structure syndicated loans that promote inclusive and sustainable growth [3][6] Institutional Background - Bladex, established in 1979 by the Central Banks of Latin America and the Caribbean, aims to promote foreign trade and economic integration in the region, with a presence in multiple countries [7] - The bank has been listed on the New York Stock Exchange since 1992, with shareholders including Central Banks and financial institutions from 23 Latin American countries [8]