Authorities from both countries agreed to work on the unification of their stock markets, starting with the issuance of a quota of Guatemalan subsidized debt directed to Salvadoran investors.
Representatives of the Guatemalan Ministry of Finance and the Ministry of Finance of El Salvador informed that before the end of this fiscal year, the Guatemalan subsidized debt will be approximately $13 million.
Aiming to settle outstanding debts and finance part of the Electric Expansion Plan, in Panama Etesa will issue rotating bonds in the local market for up to $300 million, with a term of no more than ten years.
The issue has already been approved by the Board of Directors of Empresa de Transmisión Eléctrica S.A. (Etesa), by the National Economic Council and by the Cabinet Council, so that the bonds are placed in public auction, privately, by order book or any other method.
The new tax reform proposal being discussed in Costa Rica raises capital gains tax from 8% to 15%, and also excludes recognising as a debt deposits made by issuers in the securities market.
In the view of the National Stock Exchange (BNV), not recognizing deposits made in the stock market as debt leaves it at a clear disadvantage, compared to banks, as a source of financing for companies.Not only does it compromise access to investors' savings, it also significantly limits companies and individuals investment options.
The government of the Caribbean country issued $1.3 billion in the international market for a term of 10 years and an interest rate of 6%.
This is the second issue that the Dominican Republic has made in the international market, as in the month of February it issued $1 billion for a term of 30 years and a rate of 6.5%, and another of $822 million for a 5 year term and a rate of 8.9%.
The Caribbean country issued $1 billion on the international market for a term of 30 years and at a rate of 6.5%, and another $822 million with a 5-year term and a rate of 8.9%.
Dominican authorities reported that the country issued for the first time in the New York market, a 5-year bond issue for $822 million, and another, also in dollars, at 30 years and for $1 billion.
The Morales administration intends to continue with the issuance in 2018 of Treasury bonds aimed at small investors, with investment amounts ranging from between $3 thousand and $68 thousand.
The measure will give continuity to what was done in the previous year, when 35 small investors acquired debt bonds for $1.3 million at a rate of 6.25%.
The Costa Rican Stock Exchange is preparing a bond plan for companies that seek to finance renewable energy, agriculture, and waste management projects, among others.
The aim of the authorities at the National Securities Exchange (BNV), is to have the first issue of bonds of this type ready in the last quarter of 2018.The plan is to provide financing alternatives through the stock market for projects"... new or existing ones that qualify as green projects, that is to say, that contribute to mitigating the effects of climate change or adapting to them."
The Bank of Costa Rica has received approval to issue bonds and commercial papers in the Panamanian stock market for a total of up to $500 million.
At the end of September the Superintendency of the Securities Market of Panama (SMV) issued a resolution authorizing the Costa Rican state bank to issue bonds in dollars for up to $250 million and commercial paper up to the same amount.
The Ministry of Finance has announced that within six weeks it will issue an internal debt bond for a maximum of $1.5 billion, under the model of "placement contract".
From a statement issued by the Ministry of Finance:
November 17, 2017.- The "Placement Contract" model is a new mechanism through which the Ministry of Finance will manage an internal debt placement for up to 1,500 million dollars, a relevant fact that was communicated this afternoon to the financial media.
The Ministry of Finance will be receiving bids for a minimum amount of $400 million in the local market, and the minimum issuance term will be five years.
The relevant fact published by the Ministry of Finance details that debt securities, which will pay out a fixed interest rate, will be sold through stock exchanges and banks in the local market, which can then be bought by foreign entities to sell them to international investors.
The Superintendency of the Securities Market will start asking for a risk rating in all applications for registration of securities.
From a statement issued by the Superintendence of the Securities Market:
May 10, 2017. - The Superintendence of the Securities Market (SMV) will require a risk rating as part of the documents that must be included in any application for registration of securities, in accordance with the provisions of Agreement 3-2017 of April 5, 2017, "Amending Agreement 2-2010 of April 16, 2010 on the Procedure for the Submission of Applications for Securities Registration and for Termination of Registration to the SMV and other provisions" published in the Official Newspaper La Gaceta No. 28259-A of April 17, 2017.
The concessionaire of route 27 plans to place up to $374 million in the Costa Rican stock market to repay outstanding balances on a bank loan.
A rating report by Fitch Ratings states that Globalvía, through the issuer Autopistas del Sol, plans to"... issue local notes for a total amount of up to USD374 million.The 2017-A-CR Series will be denominated in US dollars for up to USD104 million and for a term of 10 years, while the 2017-A-CR Series will be denominated in US dollars for up to USD270 million and for a term of 14 years. Both series will maintain a fixed interest rate."
Before June the Ministry of Finance plans to issue between $500 million and $700 million in foreign debt securities on the international market.
The debt bond issue being prepared by the Ministry of Finance will have similar characteristics, to the issuance made in the international market in May 2016. In that issue $700 million was placed, at an interest rate of 4.6% and a term of 10 years.