Hencorp to pioneer securitization in El Salvador
Hencorp Valores, set up in Miami with Salvadoran capital, is to become the first company in El Salvador to offer securitization of mortgage and debt portfolios.
Monday, July 21, 2008
Hencorp is the first company to be approved by the market regulator to handle business under a Securitization Law that came into force last November.
A proposal has been made that the municipalities seek financing by securitizing their income, requiring information on their financial capacity.
The securitization project to redevelop the facilities of the French School is the first of its kind in the Salvadoran Stock Exchange.
These stock market instruments allow for monetary resources to be obtained immediately, guaranteeing future cash flows for the projects implemented with the credit acquired.
The Road Maintenance Fund of El Salvador launched a second sale of securities worth $50 million on the stock exchange.
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