Holland & Knight Advises Bladex on $91 Million Syndicated Loan for Grupo Monge

NEW YORK (January 27, 2020) – Holland & Knight advised Banco Latinoamericano de Comercio Exterior (Bladex) as sole lead arranger and bookrunner on a $91 million three-year senior unsecured syndicated loan to GMG Holding S.A. (Grupo Monge) and its subsidiaries. 

Grupo Monge is one of the two largest integrated durable goods retailers and consumer finance providers in Central America, with 544 stores across six countries in Central America and Peru. The deal closed on December 19. 

Bladex is a supranational bank established by the central banks of Latin American and Caribbean countries to promote foreign trade finance and economic integration. The deal constitutes the second international syndicated facility led by Bladex for Grupo Monge. Holland & Knight advised Bladex on both transactions.

The transaction attracted the interest of 14 financial institutions from Central America, the Caribbean and Europe, of which some represent new banking relationships for Grupo Monge.

Holland & Knight Partner Stephen Double and Associate Alyssa Keon led the firm's representation of Bladex. Co-counsel on the deal included Consortium Legal in Costa Rica, Nicaragua, El Salvador, Honduras and Guatemala, ARIFA in Panama, and Garrigues in Peru.