Global Bank Corporation SA (‘Global Bank’) agreed to acquire an approximately 99.97% stake in Banco Panameño de la Vivienda SA (‘Banvivienda’) from Grupo Mundial Tenedora SA for approximately $220 million on September 24, 2018. The purchase consideration comprises an upfront payment of $150.9 million in cash and $52 million in the form of common stock of G.B. Group Corporation, the parent company of Global Bank. The purchase consideration may increase by $12 million in cash and $8 million in stock subject to terms and conditions set forth in transaction documents. Banco Latinoamericano de Comercio Exterior, S.A. (“Bladex”) provided $50 million 5-year senior secured amortizing finance facility for G.B. Group Corporation, the parent company of Global Bank Corporation. Bladex acted as Joint Lead Arranger and Bookrunner, together with JP Morgan Chase & Co. Bladex is also the Administrative Agent under the Facility. Banvivienda will become a wholly-owned subsidiary of Global Bank pursuant to the deal. The transaction is subject to authorization from Panama's banking regulator and the local securities commission including Superintendency of Banks of Panama and the Superintendency of the Securities Market. The transaction was approved by the Superintendency of Banks of Panama. The transaction is expected to be completed later in 2018. Alfaro, Ferrer & Ramírez acted as legal advisor for Global Bank while Arias, Aleman & Mora acted as legal advisor for Banvivienda. Darwin Capital acted as financial advisor for Global Bank. Lazard served as the financial advisor to Grupo Mundail Tenedora.