Holland & Knight advised Bladex, as lender, on a senior term loan of up to $1 billion to the Republic of Panama, through the Ministry of Economy and Finance (MEF). The funds will be used for the country’s general budgetary purposes. The transaction closed on September 9, 2026, and was announced by Bladex on September 15.
The Holland & Knight team was led by partner Stephen Double, along with associate Maria De Bedout and international law clerk Luciano Zanutto. The identity of the advisors from the Republic of Panama has not been confirmed.
This is the largest structured financing loan granted by Bladex to date. According to both entities, the loan allows Panama to access financing quickly and on competitive terms, and to diversify its funding sources. Samuel Canineu, Commercial Director of Bladex, stated that the transaction reflects the bank’s ability to structure large-scale financial solutions for sovereign and institutional clients. He also emphasized that it is taking place in Panama, the country where Bladex was founded more than 45 years ago.
Bladex is a multinational bank originally created by the central banks of Latin America, which began operations in 1979. It offers financial solutions to financial institutions and corporations throughout the region. It is headquartered in Panama, with offices in Argentina, Brazil, Colombia, and Mexico, an agency in New York, and a representative office in Peru. It has been listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on the Mexican Stock Exchange for over a decade. Its shareholders include central banks, state-owned banks, and representative entities from 23 countries in Latin America and the Caribbean, as well as commercial banks and institutional and private investors.
