Holland & Knight Advises Bladex on $70 Million Syndicated Secured Loan for the Favorita Group
NEW YORK (October 3, 2017) – Holland & Knight, together with the Panamanian law firm Arias Fabrega & Fabrega, Costa Rican law firm Arias, and Barbados law firm Chancery and Chambers, advised Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) as lead arranger and bookrunner on a $70 million senior secured syndicated loan to Favorita Trading Co. Ltd. and Fertisa Fertilizantes, Terminales I Servicios S.A. The loan was guaranteed by Reybanpac, Rey Banano del Pacifico C.A. and Favorita Fruit Co. Ltd. The transaction closed on Sept. 21.
Favorita is a leading Ecuadorian agribusiness conglomerate with diversified business activities including bananas, dairy and fertilizers.
Bladex is a supranational bank established by the central banks of Latin American and Caribbean countries to promote foreign trade finance and economic integration.
The Holland & Knight team assisting Bladex consisted of Partner Stephen Double and Senior Counsel Carlos Meza in New York.