Bladex engages Holland & Knight for Corporación Favorita loan

Holland & Knight has represented Banco Latinoamericano de Comercio Exterior (Bladex) as an administrative agent and as joint lead arrangers and bookrunners for Bladex, Banco General and Grupo Promerica on a $131.5 million one-year senior secured, syndicated loan and letter of credit facility for Ecuadorian supermarket group Corporación Favorita.

Corporación Favorita has more than 150 supermarkets, under the Supermaxi, Megamaxi, Aki, Gran Aki, Super Aki, Jugueton, Supersaldos and Titán brands, located throughout Ecuador. 


Bladex is a multinational bank .established by the central banks of Latin American and Caribbean countries to finance foreign trade and promote economic integration in the region.

The loan was structured as a club deal between Bladex, Banco General and Grupo Promerica, acting as joint lead arrangers. 



Proceeds of the facility were used to support Corporación Favorita’s cross-border acquisition of a majority interest in Rey Holdings, the parent company of the supermarket chains Rey, Romero and Mr. Precio, the ZAZ convenience stores and Metro Plus pharmacies in Panama, and which generate more than $700 million in annual sales.

Holland & Knight partner Stephen Double, associate José Avila and international law clerk Carlos Ortega, along with the Ecuadorian law firm Pérez, Bustamante & Ponce, advised Bladex, Banco General and Grupo Promerica on the deal.