On November 12, the debt securities were sold in the international market, and at the end of the negotiation, bonds were issued for $1.2 billion maturing in 2031 and $300 million maturing in 2045.
The negotiation of the public debt issued by the government of Costa Rica in the international market closed at noon on November 12, and the yield for those maturing in 2031 was 6.25% and for those expiring in 2045 was 7.25%.
The Panamanian government has authorized a $400 million loan between Empresa de Transimisión Eléctrica and Citibank, for the payment of the Third Transmission Line.
As detailed in the August 10 editions of the official newspaper, La Gaceta, the funds will be used to cancel Partial Payment Certificates, a format known as a Turnkey project.
Scotiabank has announced that on July 3 it had formally completed a merger with Citibank, meaning that its client base will increase from 110,000 to 282,000.
The Superintendence of Competition has authorized the Honduran company Imperia Intercontinental and Inversiones El Salvador to buy Banco Citibank, five of its subsidiaries, Seguros e Inversiones, and Cititarjetas.
From a statement issued by the Superintendency of Competition in El Salvador:
The Board of Directors of the Superintendency of Competition has approved this day, the authorization request for a merger consisting of the purchase of Banco Citibank de El Salvador, S.A. and five of its subsidiaries, Seguros e Inversiones S.A. (SISA) and its subsidiary and Cititarjetas, by Imperia Imperia Intercontinental Inc. and Inversiones El Salvador S.A. de C.V. The deal involves a non-horizontal economic concentration of a conglomerate for most of its operations and a vertical relationship for the provision of financial services through ATMs at gas stations.
The consortium formed by Odebrecht and the Spanish company FCC will have to find a new bank to grant the funds that Citibank was supposed to provide under the original financing structure.
The exit of Citigroup from the $1,857 million financing structure for the design and construction of Line 2 of the Panama Metro could be due to the recent deterioration in the risk perception of the Brazilian company Odebrecht, whose rating Fitch cut on May 3, citing the "... the increased risk and uncertainty associated with lack of publication of the financial statements of the company at the end of April."
The financial group from Nicaragua has announced the acquisition of the consumer and commercial banking operations of Citi in Guatemala.
Promerica Group announces the signing of a definitive agreement for the acquisition of consumer banking and commercial banking of Citi Guatemala, subject to approval from the regulatory agencies.
Without disclosing the amount of the transaction, the Canadian bank has announced the acquisition of Citigroup's operations in personal and commercial banking in both countries.
The business group chaired by the Panamanian Stanley Motta may be interested in acquiring units of Citi's consumer banking operations in Panama and Costa Rica.
It is not yet been revealed which of Citibank' consumer banking companies in Panama and Costa Rica they may be interested in acquiring. However, potential stakeholders include the General Bank of Panama and Grupo ASSA, which in addition to being insurers, also runs La Hipotecaria.
The transaction involves the acquisition of all of Citi's operations in the country, including commercial loans, personal loans, deposits and credit cards.
From a statement issued by Ficohsa Group:
The company has been consolidated among the 10 largest financial groups in Central America
* The transaction involves the acquisition of all of Citi's operations in Nicaragua: commercial loans, personal loans, deposits and credit cards.
The letter of credit issued by Citi to Globeleq Mesoamerica Energy is for the import of 25 turbines for the 50MW wind farm Orosi, to be built in Guanacaste.
The Spanish company Gamesa is the beneficiary of the letter of credit for the import and installation of 25 turbines in the wind farm being developed by Globeleq Mesoamerica Energy in the area of Quebrada Grande, near Liberia, Guanacaste.
In two days yields on external debt maturing in 2023 rose by 0.23% after the announcement of the departure of Intel and the Bank of America.
In addition to increasing the perception of risk in investments in Costa Rica, Bloomberg.com reports that Citi cut its growth forecast for the Costa Rican economy in 2014, from 3.5% to 3.1% and from 4% to 2.2% for 2015.
Three banks are offering companies hedging instruments to combat volatility in the exchange rate.
Banco Nacional, Citibank and Davivienda bank are the financial institutions in Costa Rica authorized to offer currency hedging instruments which enable companies to fix a certain exchange rate for future transactions, eliminating the uncertainty generated by the price volatility of the foreign currency.
With an investment of $35 million, the company plans to build its "Citi Campus" at Corporate Centre El Cafetal, in the west of the capital.
The institution is aiming to physically consolidate its corporate banking and consumer banking operations in the country, along with hiring 800 additional workers over the next two years.
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