Hughes Hubbard Advises Bladex as Arranger in $206M Financing for Panama Cement Acquisition

Deals & Matters

Hughes Hubbard & Reed LLP • A New York Limited Liability Partnership

One Battery Park Plaza • New York, New York 10004-1482 • +1 (212) 837-6000

Attorney advertising. This advisory is for informational purposes only and is not intended as legal advice. Prior results do not guarantee a similar outcome. For more information: https://www.hugheshubbard.com/legal-notices.

Oct. 7, 2025 – Hughes Hubbard advised Bladex in relation to a $206 million credit facility to support the acquisition by Grupo Estrella of Cemex’s operations in Panama.

The facility provided financing for the acquisition of the Bayano cement plant as well as other assets related to the production of cement, concrete and aggregates in Panama.

Bladex acted as administrative agent, collateral agent, sole lead arranger, bookrunner and lender. BAC International Bank and Global Bank Corporation also participated as lenders.

Andrés Berry led the Hughes Hubbard team, with primary assistance from George Cortina and Santiago Diaz-Seijido. Other members of the team included Justin Cohen and Sean Reilly.