CAF grants a us$200 million loan to grupo polar

CAF provided a significant financial backing to Venezuela’s private sector by approving a US$ 200 million A/B loan to Inversiones Primor C.A., a subsidiary of Grupo Polar. The loan is intended to finance the group’s investment plans including its acquisition of MAVESA.

The operation was co-led by Salomon, Smith Barney. CAF will finance the US$ 50 million “A” portion, while the remaining US$150 million will be financed by other participants in the operation. A/B loans are co-financing instruments of co-financing, used by multilateral organizations to support development projects, together with other financial institutions.

By promoting these types of operations, the Corporation attracts external resources to the region, and contributes to improve the investment image of shareholder countries, said Enrique García, CAF’s Executive President & CEO.

García stressed that this operation forms part of CAF’s policies to support the financial requirements of companies in low risk sectors with high added value.