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Jul 30, 2018- 19:24
Banco Atlántida issued $ 50 million this Monday in investment certificates for the purpose of obtaining funds to finance investment projects, which encourage the growth of the various productive sectors of the country
The placement of these securities was made on the El Salvador Stock Exchange, for a period of 7 years. years, with an initial fixed interest rate of 4.5% per annum. [19659004] The structuring and placement agent of the issue was the home of Atlántida Securities brokers
According to Carlos Turcios, the Bank's Executive Chairman, "this issuance of investment certificates represents for Banco Atlántida the opportunity to reaffirm its commitment with the development of the Salvadoran economy, and at the same time expand the range of services offered up to now, supported by technological innovation in order to implement the
Rolando Duarte, chairman of the stock market, said that "the investment certificate has been and is currently one of the most used figures by financial institutions because it offers broad flexibility, allowing issuers to design an effective and competitive financing alternative, which matches in terms of terms and amounts to the loan demand of their clients. "
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On the characteristics of the issue, Iván Juárez, managing director of Atlántida Securities, Brokerage House, said: "the amount placed in tranche 1 of the 39; issue CIBAES1 (divided into three blocks) is $ 50 million, with a term of 7 years, with a fixed annual interest rate structure, ranging from 4.50% to 8%, guaranteed by mortgages "A1" And "A2" for 125% of the value of the issue and 3 amortization of capital. "
Similarly, Juarez explained that it was important to mention that, due to the payment capacity of Banco Atlántida El Salvador, this issue has an "AA" investment grade rating by SCRiesgo and "AA-" by Zumma Ratings, which makes it very attractive for individual and institutional investors, both inside and outside our borders. "
Duarte recalled that it is essential for businesses and banking institutions to diversify their sources of financing, seeking to generate a competitive advantage and create value for them.
Atlántida will expand its activity
Banco Atlántida El Salvador is a member of Inversiones Financieras Atlántida, a subsidiary of Inversiones Atlántida (Invatlán), which has a history of more than 100 years of experience and regional presence Onal in Central America [19659004] Currently, Inversiones Financieras Atlántida has a banking business, a brokerage firm, an investment fund manager and will soon launch in the insurance sector.
The strong growth of this group The day-to-day diversification of its services
Banco Atlántida, accompanied by the stock market, will offer a new investment alternative and take advantage of the financial advantages stock market to boost its financial activities, allowing them to progress steadily in the future. [19659004] Banco Atlántida, which was founded in 1913, began operations in El Salvador in November 2017, after finalizing the purchase of Banco ProCredit through Inversiones Financieras Atlántida. According to the authorities, the operation exceeded $ 43 million.
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