Arias, Fábrega & Fábrega advised Bladex in connection with its inaugural offering of Additional Tier 1 (AT1) notes, raising US$200 million in the international capital markets. The instruments are perpetual and non-cumulative, with an initial call date after seven years, and were priced at a 7.50% coupon, attracting strong demand from a broad base of global institutional investors. Significantly, the transaction was more than three times oversubscribed, underscoring investor confidence in Bladex’s strategy and financial standing.

The issuance is Bladex’s first hybrid capital instrument (and the second AT1 issuance in Panama), structured to optimize the bank’s capital base while ensuring full compliance with both local regulatory requirements and the Basel III framework. Proceeds will be used to further strengthen Bladex’s capital structure, support loan growth, and maintain capitalization well above regulatory minimums—positioning the bank for sustained expansion in its trade-finance and corporate client operations across Latin America.