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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of Borrowings [Abstract]  
Schedule of unsecured borrowings at amortized cost
20232022
Borrowings at amortized cost 1
Syndicated term loans (1)$64,275 $38,626 
Other term loan (2)80,717 96,851 
Lease liabilities (3)35,247 34,192 
Factoring obligations (4)4,111 2,317 
Bank overdrafts (5)153 80 
Senior Notes (6)115,000 115,000 
Total interest bearing liabilities$299,503 $287,066 
Current$268,389 $257,898 
Non- Current$31,114 $29,168 
1Borrowings at amortized cost are unsecured, with the exception of factoring obligations which are collateralized by trade receivables. Refer to Note 19. Trade and other receivables, net.
Schedule of borrowings
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
Syndicated term loanCOP
IBR+5.3% (Variable)
2023-2025$— $38,626 
New Banco Credit Agreement
COP
IBR +8.5% (Variable)
202964,275 — 
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
Other term loans1
COP
17.72%-32% A.E., 23.50% A.N. (Fixed)
(2022:IBR+ 5%, DTF+ 3%, 13.99%-25.3%)
2024-2025$14,323 $9,549 
COP
IBR+2.25%-7.25%
(2022: IBR+2.25%-10.2%)
2024-202513,468 21,267 
Soles
8% - 12.79% A.N.(Fixed)
20247,364 6,837 
Reales
9.84%-13.08% A.N.
(2022: 9.84% - 18% A.N.)
2024545 2,176 
USD
SOFR+ (3%-5.80%)
(2022: SOFR+ (4.8%-5.8%))
202423,621 23,454 
USD
8%-19.68% A.N.
(2022: 6.36%-16.8%)
2024-202521,396 33,568 
Total Other term loans$80,717 $96,851 
1. Other term loans includes reverse factoring transactions. The balance of reserve factoring as of December 31, 2023 and 2022 was of $17,813 and $10,080, respectively.
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
Lease liabilitiesCOP
IBR+3.82%-7.30%
(2022: DTF + (5.18% - 10.11%) T.A., IBR+7.5%)
2024-2030$11,082 $10,475 
COP
IBR+4.20%-8.20%
(2022: DTF+ 4.54%-10.42% T.A.)
2024-20256,340 3,653 
USD 1
0.75%-21.75%
2024-203217,180 14,787 
COP
1.91%-12.23%, IBR+4.68%

2023— 4,703 
Reales
0.33% - 19.08% A.N.
(2022: 0.70% - 8.72% (Fixed))
2024645 574 
Total Lease liabilities$35,247 $34,192 
1Includes lease liabilities of $1,331 (2022: $1,501) with related party WM Partners, LP.
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
Portfolio factoringCOP
DTF+8%
(2022: DTF+7%)
2024$1,802 $1,508 
COP
2.15% A.N. Fixed
(2022: 15%-27% A.N.)
20241,553 809 
Reales
18% A.N.
2024551 — 
USD
9.95% A.N.
2024205 — 
Total Factoring obligations$4,111 $2,317 
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
Overdrafts and credit cardsCOP
32.00% A.E. (Fixed)
(2022: 19.68% - 32% A.E.)
2024$20 $80 
USD
SOFR+3.00%+FECI 1.00%
202418 — 
USD
11.29% - 29.99% A.E. (Fixed)
2024115 — 
Total Overdrafts and credit cards$153 $80 
(In thousands of USD)
Principal currencyRange of InterestMaturity Year20232022
The Prudential Insurance Company Of AmericaUSD
8.50% A.N.(Fixed)

2031$60,020 $60,020 
Prudential Annuities Life Assurance CorporationUSD
8.50% A.N.(Fixed)

203129,980 29,980 
Healthspring Life & Health Insurance Company, IncUSD
8.50% A.N.(Fixed)

203118,350 18,350 
CIGNA Health and Life Insurance CompanyUSD
8.50% A.N.(Fixed)

20316,650 6,650 
Total Senior Notes$115,000 $115,000 

On November 12, 2021, the Group closed the private placement offering of $115 million aggregate principal amount of 4.75% guaranteed senior notes (the “Senior Notes”) issued by Procaps, S.A., a subsidiary of the Group, due November 12, 2031, pursuant to the NPA entered into on November 5, 2021 with The Prudential Insurance Company of America, Prudential Annuities Life Assurance Corporation, Healthspring Life & Health Insurance Company, Inc. and Cigna Health and Life Insurance Company Inc
Schedule of reconciliation of liabilities from financing activities
Reconciliation of liabilities arising from financing activities
January 1, 2023Payment cash flows
New
liabilities 1
Other
changes 2
December 31,
2023
Syndicated term loans38,626 (4,043)5,556 24,136 $64,275 
Other term loan96,851 (112,880)102,677 (5,931)$80,717 
Lease liabilities34,192 (5,992)2,574 4,473 $35,247 
Factoring obligations2,317 (20,607)21,702 699 $4,111 
Bank overdrafts80 (425)479 19 $153 
Notes115,000 — — — $115,000 
Total liabilities from financing activities$287,066 $(143,947)$132,988 $23,396 $299,503 

1.New liabilities include non-cash activities for invoices from suppliers financed via reverse factoring $47,161 and new lease liabilities for $2,574.
2.Other changes include foreign currency exchange differences, cost amortization of $98 and the novation of debt of $13,707 between the Other term loan and the Syndicated term loan.

January 1,
2022 		Payment cash flows
New
liabilities 1
Other
changes 2
December 31,
2022
Syndicated term loans$46,505 (7,850)7,923 (7,952)$38,626 
Other term loan$51,593 (94,306)145,631 (6,067)$96,851 
Lease liabilities$31,747 (6,679)12,647 (3,523)$34,192 
Factoring obligations$10,609 (21,943)14,042 (391)$2,317 
Bank overdrafts$55 (817)1,019 (177)$80 
Notes$112,857 — — 2,143 $115,000 
Total liabilities from financing activities$253,366 $(131,595)$181,262 $(15,967)$287,066 

1.New liabilities include non-cash activities for invoices from suppliers financed via reverse factoring $32,358 and new lease liabilities for $12,647.
2.Other changes include foreign currency exchange differences, the write-off of the Notes unamortized transaction costs of $1,600 due to the debt extinguishment, and cost amortization of $360.