Global Tower Partners Gets $60 million Regional Loan
Eight banks have provide to a Costa Rican subsidiary with its first Latin American syndicated loan to finance the construction of two cell phone towers.
Tuesday, April 24, 2012
"The operation involved Citibank, Banco General, Banco G & T Continental, Corpbanca, MetroBank, RBC Merchant Bank (Caribbean) Limited and Towerbank International. Additionally, Improsa Bank acted as trustee," reported Elfinancierocr.com.
The Guatemalan company Continental Towers will receive funding from the International Finance Corporation to build and maintain cell towers in Central America.
G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.
The Banco Financiera Comercial Hondureña S.A. (Ficohsa) and Guatemala's Banco GT Continental, together with several local banks, including Atlántida, BAC-Bamer, GTC Bank, Banco Aliado and Tower Bank, have put together a syndicated loan of 77 million dollars for Corporación Dinant.
Profitability drops as asset liquidity increases, but liquidity is what ensures the life of the banking business and their customers' money.
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