January 21, 2020 |
Corporación Favorita, the largest supermarket chain in Ecuador, is close to refinancing the bridge loan it got early last year to cover the acquisition of Rey Holdings in Panama, according to a source familiar with the deal.
Corporación Favorita took the one-year, $132 million loan in a club deal led by Banco Latinoamericano de Comercio Exterior (Bladex), Banco General and Promerica, following the announcement in November 2018 that it had agreed to buy Rey.
In December last year, Corporación Fav
Ecuador's largest supermarket chain could sign a $285 mln loan with IDB Invest before the end of January