Banco Latinoamericano de Comercio Exterior (Bladex) announced the closing of a four-year, $102 million syndicated loan in favor of Favorita Trading, Fertisa Fertilizantes and Terminales I Servicios, companies belonging to the Favorita Group, an Ecuadorian agribusiness conglomerate with diversified business activities including bananas, dairy and fertilizers.
The transaction marks the largest syndicated loan for Favorita. Bladex was the sole lead arranger and bookrunner of the transaction, and will act as the administrative and collateral agent.
The loan was launched in June and received strong support from financial institutions based in Panama, Central America and the Caribbean. Proceeds of the loan will be used to improve the company's debt maturity profile.
Bladex is a multinational bank established by the central banks of Latin American and Caribbean countries to promote foreign trade finance and economic integration in the region. The bank, headquartered in Panama, has offices in Argentina, Brazil, Colombia, Mexico, Peru and the U.S.
Bladex announces $102 million loan for Favorita Group
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