April 9, 2021 |
Corporación Favorita, the largest supermarket chain in Ecuador, has received the first disbursement from a new $80 million loan from IDB Invest, a source at the company told LatinFinance.
Proceeds from this "tranche B," or second lien loan that Corporación Favorita has signed with IDB Invest, are being used to build a distribution center for subsidiary Grupo Rey in Panama, the source said.
IDB Invest obtained the funds from a group of banks, but Corporación Favorita's contract is solely with ID
Ecuador's largest supermarket chain gets $80 mln to build a distribution center for its subsidiary in Panama