George Town, Cayman Islands, Jul 26, 2023 - (亞太商訊) - ArtCap Strategies, a Cayman-based investment group specialized in direct lending throughout Latin America and the Caribbean, is pleased to announce the successful closing of a 10-year USD 90 million senior secured term loan for Banesco (Panama) S.A. ("Banesco"), Panama's fourth largest bank in terms of deposits, that belongs to a financial group (Banesco International), with presence in 14 countries. The loan proceeds will be utilized to fund the growth of Banesco's consumer loan portfolios and general corporate purposes.
Secured by a portfolio of mortgages, this financing demonstrates ArtCap's commitment to supporting financial institutions with their strategic objectives while creating investment opportunities that meet international investor demands.
The ArtCap Strategies team boasts unique and extensive experience in executing structured financings for financial institutions throughout the region with an established track record of delivering innovative tailor-made solutions.
"We are delighted to have successfully closed this senior secured term loan for Banesco," said Antonio Navarro, Managing Partner at ArtCap Strategies. "This transaction not only enables Banesco to expand its loan portfolio but also highlights our expertise in structuring financing solutions that meet the specific needs of investors while prioritizing risk management. As some large investment banks retreat from the region, we are proud to bridge the gap and provide vital support to institutions like Banesco."
"We are pleased to have secured this facility for Banesco, which will fuel the growth of our franchise in the country," stated Juan Yague, CFO of Banesco. "ArtCap Strategies' expertise in executing structured financings has proven invaluable for Banesco, and we appreciate their commitment to providing tailored solutions that meet our needs."
About ArtCap Strategies
ArtCap Strategies is a Cayman-based investment group specializing in structuring custom solutions for clients in Latin America and the Caribbean. With a team of seasoned professionals and a comprehensive suite of products and services, ArtCap empowers its clients and investors to navigate complex financial landscapes in order to achieve their strategic objectives.
For media inquiries, please contact:
[email protected]
www.artcapstrategies.com
This press release contains certain statements that may include "forward-looking statements". All statements, other than statements of historical fact, included herein are "forward-looking statements." The forward-looking statements are based on ArtCap's beliefs, assumptions and expectations of future performance, taking into account all information currently available to ArtCap,, and can change as a result of many possible events or factors, not all of which are known to ArtCap or are within its control. ArtCap Strategies and the Fund are not registered with, or regulated by, the Cayman Islands Monetary Authority or any other governmental agency in the Cayman Islands.
Contact Information
Antonio Navarro
Managing Partner
[email protected]
2128821321
Copyright 2023 亞太商訊. All rights reserved. www.acnnewswire.com
ArtCap Strategies Co-Arranges With Apollo Global Funding LLC, a USD 90 Million Senior Secured Term Loan for Banesco (Panama) S.A.
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