Arias, Fábrega & Fábrega acted as legal counsel to Sole lead lender and Bookrunner, and administrative agent Banco Latinoamericano de Comercio Exterior (Bladex) in the successful closing of a 3-year senior unsecured syndicated multijurisdictional loan worth US$120 million for retailer GMG Holding S.A. and subsidiaries.

Fifteen banks acted as co-lenders in this deal that constitutes the second international syndicated facility for Grupo Monge, one of the two largest integrated durable goods retailers and consumer finance providers in Central America, with 518 stores across 6 countries.

Proceeds from the Facility will be used to refinance Grupo Monge’s existing indebtedness and extending the Group’s debt maturity profile. The transaction attracted the interest of 15 financial institutions from Panama, Costa Rica, Colombia, Guatemala, El Salvador, Curacao, Dominican Republic, and the United States, of which the majority represent new banking relationships for Grupo Monge. It was 1.2 times oversubscribed, which allowed the Group to upsize the facility amount to US$120 million from its original target of US$100 million.