Bladex and BTG Pactual lead new credit facility for GeoPark Colombia
Energy for development: Bladex and BTG Pactual lead new credit facility for GeoPark Colombia SAS ("GeoPark")
Panama City, Republic of Panama - Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex”, NYSE: BLX) and Banco BTG Pactual S.A. – Cayman Branch (“BTG Pactual”) announce the successful closing of a syndicated committed credit facility for GeoPark. This transaction strengthens the strategic partnership between the parties and highlights the financial structuring capabilities of both institutions.
At the end of 2024, Bladex and BTG Pactual led the second syndicated committed credit facility for GeoPark, amounting to US$100 million. In addition to Bladex and BTG Pactual, four other banks participated in this transaction, demonstrating the confidence of financial institutions in GeoPark's strength and track record.
GeoPark Colombia S.A.S. is a subsidiary of GeoPark Limited (NYSE: GPRK), a prominent independent oil and gas exploration, production, and commercialization company in Latin America. With a history spanning over two decades, GeoPark has a presence in Colombia, Argentina, Brazil and Ecuador.
Maria Catalina Escobar, GeoPark's Shareholder Value & Capital Markets Director, emphasized that “this financing allows GeoPark to maintain its financial flexibility and face possible changes in the macroeconomic environment and in international oil prices with strength, maintaining its commitment to produce crucial energy in the safest, most reliable, economical, and responsible way.”
At the end of 4Q2024, GeoPark attained an average quarterly production of 31,489 boepd (barrels of oil equivalent per day) and an average annual production of 33,937 boepd. The company has proven developed reserves of 68.8 mmboe (million barrels of oil equivalent), which corresponds to 5.4 years of reserve life. The company is publicly traded on the New York Stock Exchange and maintains a robust financial structure supported by ESG policies in line with international standards.
Carlos de Alvear, Bladex's Senior Vice President and Head of Mexico and South America, stated: “Bladex is pleased to have successfully executed these two syndicated committed credit facilities for GeoPark. This new transaction clearly reflects our structuring and distribution capabilities, as well as our network of financial relationships in Latin America. GeoPark remains a key ally for Bladex, and we are proud to support its sustainable growth.”
Felipe Peláez of BTG Pactual emphasized: “BTG Pactual is proud to have worked with Bladex to secure these important syndicated facilities for GeoPark. These transactions further solidify our dedication to delivering cutting-edge financial solutions to our customers across the region.”
These transactions highlight the prowess of both Bladex and BTG Pactual in spearheading intricate financial initiatives and driving economic growth in Latin America, strengthening investor confidence and promoting sustainable growth for companies in the region.
Bladex was founded in 1979 with a mission to promote foreign trade and regional integration. Its network includes offices in Panama, Argentina, Brazil, Colombia, Mexico, the United States, and a representative license in Peru. Bladex is listed on the New York Stock Exchange (NYSE: BLX) and has a shareholder base comprised of central banks, state-owned banks, and entities representing 23 countries in Latin America and the Caribbean, as well as institutional and private investors.
