January 13, 2017 |
When the Inter-American Investment Corporation (IIC) launched its Trade Finance Facilitation Program in 2005, it set out to promote access to funding and to expand banking relationships between borrowers and lenders. Banco de Reservas, the largest bank in the Dominican Republic, turned to the program in early 2016 for an $80 million A/B loan.
The IIC teamed up with US lender Wells Fargo as the joint bookrunner and brought in 14 commercial investors, including eight new relationship banks for BanReservas, in a loan that ballooned to $130 million by the time it closed in March. The high investor demand and the record number of B lenders for an IIC facility make the syndicated loan
The IIC and Wells Fargo recruited a record number of lenders to a A/B loan for Dominican Republic's BanReservas, including nine new relationship banks