Consortium Legal Advised on the Financing for the Acquisition of Banistmo in Panama
The acquisition of Banistmo, S.A., one of Panama’s leading banks, represents one of the most significant financial transactions for the Central American banking sector in recent years, strengthening the integration of the regional financial system and marking a high-impact transaction for the market.
In this transaction, Consortium Legal advised Inversiones Cuscatlán Centroamérica, S.A. (now Grupo Financiero BSC, S.A.) as the Salvadoran legal counsel on the US$350 million syndicated loan intended to finance the acquisition. The financing was led by Banco Santander and Bladex, who acted as structurers and placement agents.
The transaction involved coordinating multiple international financial players and serves as an example of the growing sophistication of financing and acquisition transactions that are driving the development of the financial sector in Central America.
“This transaction reflects the dynamism of the regional financial sector and the growing confidence of investors and financial institutions in Central America. Having supported our client in a transaction of this magnitude reaffirms Consortium Legal’s ability to advise on complex financings and cross-border transactions that have a significant impact on the region,” said Óscar Samour, lead partner and Banking & Finance specialist at Consortium Legal in El Salvador.
The Consortium Legal team consisted of Óscar Samour, Felipe Aragón, and Roberto Castro, who provided advice on the Salvadoran legal aspects of this transaction.