Corporación Favorita receives funding from IDB Invest

Corporación Favorita receives funding from IDB Invest

Debt Loans IDB Invest Capital Markets Ecuador Panama

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

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