PANAMA
CITY, Aug. 17, 2023 /PRNewswire/ -- Banco
Latinoamericano de Comercio Exterior, S.A., ("Bladex") and
Banco BTG Pactual S.A. – Cayman Branch ("BTG Pactual") announced
today the successful closing of a US$80
million 2-year Senior Unsecured Committed Facility (the
"Facility") for GeoPark Colombia S.A.S. ("GeoPark" or
the "Company"). Bladex and BTG Pactual acted
as Mandated Lead Arrangers and Bookrunners and Bladex shall
act as the Administrative Agent for the Facility. Three additional
financial institutions in Latin
America joined the facility as participating banks including
new banking relationships for GeoPark.
GeoPark Colombia S.A.S. is a subsidiary of GeoPark Limited, a
leading independent Latin American oil and gas company with
operations in Colombia,
Ecuador, Brazil and Chile. GeoPark Limited produced 36.6 thousand
barrels of oil equivalent per day (boepd), as of the second quarter
of 2023, and has proved developed reserves of 56 million barrels of
oil equivalent (mmboe), corresponding to 4 years of reserve life.
The Company is listed in the New York Stock exchange and has
$500 million worth of 144A notes
issued in the international Debt Capital Market maturing in
January 2027 and rated B+ by Fitch.
GeoPark Limited has a robust financial structure with sales of
US$1,050 million, EBITDA of
US$540 million, and a Net Debt to
EBITDA ratio of 0.7x as of December
2022. GeoPark Limited and its subsidiaries have robust ESG
policies and commitments aligned with international standards.
The Facility constitutes the first international committed
syndicated transaction led by Bladex and BTG Pactual for GeoPark
Colombia S.A.S. The Facility is intended to serve as a contingency
credit line that the Company might use at any time for general
corporate purposes and therefore improves the already solid credit
profile.
Carlos De Alvear, Bladex´s Senior
Vice President and Head of Mexico
and South America, stated: "Bladex
is very pleased to have successfully executed the first syndicated
committed facility for GeoPark Colombia S.A.S. and to support
GeoPark Colombia S.A.S. growth plans while securing long-term
financing. This transaction marks the strong relationship and is a
landmark transaction for Colombia.
The Facility is a clear demonstration of Bladex's structuring and
distribution capabilities, which is qualified to raise funds and
access a wide network of financial institutions. The Facility adds
to our credentials more than 71 transactions arranged in
Latin America."
Felipe Peláez from BTG Pactual stated: "BTG Pactual is very
pleased to have helped GeoPark, jointly with Bladex, to secure its
first syndicated committed unsecured credit facility in company´s
history and for such a material amount. BTG Pactual is also very
satisfied with the new banking relationships that this transaction
brought to GeoPark; it is with this kind of structured transactions
that we provide real value to our customers across the region."
Bladex, a multinational bank originally established by
the central banks of Latin-American and Caribbean countries, initiated operations in
1979 to promote foreign trade finance and economic integration in
the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, 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.
BTG Pactual is the biggest investment bank from
Latin America, operating in
Investment Banking, Corporate Lending, Sales & Trading, Wealth
Management, Asset Management, SME, Digital Investments and Banking.
Since inception, in 1983, the Bank has been run based on a
meritocratic partnership culture, focused on clients, excellence
and a long-term vision. BTG Pactual has cemented its status as one
of the most innovative sector players and has won numerous national
and international awards. BTG Pactual currently has almost 6,000
employees in offices across Brazil, as well as in Chile, Argentina, Colombia, Peru, Mexico,
the US, Portugal and England.
For further information, please contact:
Bladex:
Felipe Suarez – SVP, Head
of Loan Structuring & Syndications
E-mail
address: fsuarez@bladex.com
Head Office Address: Torre V, Business Park, Ave. La
Rotonda, Urb. Costa del Este
Panama, Republic of Panama.
BTG Pactual:
Ernesto Meyer – Head of
Global Syndication Desk
E-mail address:
ernesto.meyer@btgpactual.com
Head Office Address: Avenida Brigadeiro Faria Lima,
3.477, 14º Andar
São Paulo, Brazil.
GeoPark:
Marcelo Iribarne – Capital
Markets Director
E-mail address:
miribarne@geo-park.com
Head Office Address: Carrera 94,
11-30
Bogota,
Colombia.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bladex-and-btg-pactual-successfully-lead-the-first-syndicated-loan-for-geopark-colombia-sas-for-us80-000-000-2-year-senior-unsecured-committed-facility-301902982.html
SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)