$ 2.5 Million Securitization for Project in El Salvador
The securitization project to redevelop the facilities of the French School is the first of its kind in the Salvadoran Stock Exchange.
Monday, November 29, 2010
Hencorp Securities carried out the process by issuing the securities, "some of the features of the placement are a 6% yield (with a 7% ceiling) and a repayment period of 10 years," says Laprensagrafica.com.
Costa Rica still faces obstacles to implement this mechanism, regarded as the best alternative for funding public works.
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.
Risking future income rather than tangible assets is a good choice for investment financing, using working capital or debt restructuring.
In the last 11 months, 4 projects have netted $37 million using this mechanism.
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