RCS - ArtCap Strategies - ArtCap Arranges With Apollo $90M Loan for Banesco

Apollo Global ManagementAnnouncement

26/07/2023 14:15

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RNS Number : 1796H  ArtCap Strategies  26 July 2023

ArtCap Strategies Co-Arranges With Apollo Global Funding LLC, a USD 90 Million
Senior Secured Term Loan for Banesco (Panama) S.A.

ArtCap Strategies ("ArtCap") is a fund specialized in direct lending
throughout Latin America and the Caribbean

GEORGE TOWN, CAYMAN ISLANDS / ACCESSWIRE / July 26, 2023 / 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.

 

ArtCap Strategies Logo

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:

info@artcapstrategies.com

www.artcapstrategies.com
(https://stats.newswire.com/x/html?final=aHR0cHM6Ly93d3cuYXJ0Y2Fwc3RyYXRlZ2llcy5jb20&sig=IiBY2BkhZqU4dYFuW1xUQbu0WotfY-D-8araa1qrgkahDclm6glk_RARuoSK1b07a5HnabzXo6mM-q1FUqLd-Q&hit%2Csum=WyIzeXU5YzYiLCIzeXU5YzciLCIzeXU5YzgiXQ)

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
antonio.navarro@artcapstrategies.com
(mailto:antonio.navarro@artcapstrategies.com)

2128821321

SOURCE: ArtCap Strategies

 

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