$58 million Securitization in El Salvador

The expansion and modernization of the International Airport in El Salvador will be funded through securities, which will be issued on 18 February.

Monday, February 11, 2013

The Autonomous Executive Port Commission of El Salvador (CEPA by its initials in Spanish) will issue securities worth $58.3 million, which will be complemented by a loan taken out with the BCIE in order to expand the El Salvador International Airport (AIES by its initials in Spanish), whose investment is around $70 million.

Prensagrafica.com reports that, "The ECA plans to go to the national stock market to finance the expansion and modernization of the AIES. They will use the format of securitization, committing future income which the ECA is assured of. In this specific case it is the services that users will pay to occupy the premises. "

Alberto Arene, ECA president, said that he has made several trips in order to see other airports with more advanced technology.

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CEPA to Issue $78 million for Airport

December 2012

The modernization of El Salvador International Airport will be financed with a securitization fund of $77.7 million.

The company Hencorp has been chosen by Comisión Ejecutiva Portuaria Autónoma (CEPA) to structure the securitization on the Stock Exchange of El Salvador.

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In El Salvador plans are afoot to launch a tender at the International Airport at the beginning of 2013, after securitization that could take shape in December 2012.

Elsalvador.com.sv reports that "The Autonomous Executive Port Commission (CEPA) said yesterday that they will wait until December to securitize part of the revenue from International Airport El Salvador (AIES) and that it will be used to improve the facilities of this terminal. "

Securitization to Modernize Airport Authorized

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The Salvadoran Legislative Assembly has authorized the securitization of up to 20% of flows in order to finance improvements on the airport in El Salvador.

"Parliamentarians voted for the project, prepared by the Finance Committee, arguing that it is necessary to install air conditioners, modernize other areas, including the restrooms, in order to improve the quality of service to users", noted an article in Laprensagrafica.com

El Salvador Analyzes Issuing Debt to Expand Airport

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Officials are considering issuing bonds or taking loans to finance the expansion of AIES International Airport.

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