Securitizations Grow in Costa Rica

The demand increases while $200 million in emissions are expected over the next 12 months.

Thursday, April 30, 2009

The prices of these instruments have risen in recent weeks, increasing their demand due to the low interest rates for investing in dollars.

Moreover, there are several of these instruments planned for this year, among them one for the customs office in Peñas Blancas and others for the University of Costa Rica, the Costa Rican Institute of Pacific Ports and the Garabito Thermal Project.

The manager of the National Stock Exchange of Costa Rica, Jose Rafael Brenes, told elfinancierocr.com: "We hope that securitizations of at least $200 million are authorized in the next 12 months."

More on this topic

Securitization Fails in Costa Rica

June 2012

In November 2010 announcements were made for works worth $760 million to be financed through securitizations which never materialized.

An article in Elfinancierocr.com reports that "In October 2010 a change in the regulation of public offering of securities came into force regulating investment instruments originating from securitization and trusts for public works developments."

Salvadoran Stock Exchange Expects to Triple Securitizations

March 2012

The BVES anticipates $100 million of securitization processes in 2012, nearly triple the $39 million securitized in 2011.

The president of the Stock Exchange of El Salvador (BVES), Rolando Duarte, said that this year the securitization of assets or future cash flows of private and public companies would total about $100 million, reported ElSalvador.com.

Garabito Thermal Power Plant Issues $23 Million Debt

March 2010

The securitization trust which funds the thermal power plant has issued $23.8 million in bonds at Costa Rica’s stock exchange.

The Securitization Fund for Thermal Power Plant Garabito was created to fund the construction and leasing to the Costa Rican Electricity Institute (ICE) of a 200MW thermal power plant.

Hencorp to pioneer securitization in El Salvador

July 2008

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.

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.

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