Grupo de Inversiones Suramericana S.A. (“Grupo SURA” or the “Company”) hereby announces that today its subsidiary, SURA Asset Management S.A. (“SURA AM”) entered into two bilateral credit agreements, each in the amount of USD$ 125,000,000, with JPMorgan Chase Bank, N.A. (“JPMorgan”) and Banco Bilbao Vizcaya Argentaria, S.A. New York Branch (“BBVA”).
The repayment term is 12 months for the loan with JPMorgan and 18 months for the loan with BBVA. Both loans will bear interest at the SOFR rate plus a market-based spread, with interest payable semiannually.
The loans shall be guaranteed by SURA Asset Management Chile, S.A. and SURA Asset Management México, S.A. de C.V.
The terms of the agreements entered into by SURA AM are standard market terms, including a restriction on the payment of dividends to its shareholders, solely and exclusively in the event that a continuing default occurs under each agreement.
SURA AM will use the proceeds from the loans to make an extraordinary dividend payment to its shareholders.