$9.2 million additional capital for wind power project in Costa RicaWednesday, September 10, 2008 Econergy International said it has secured additional working capital of up to $9.2 million and in particular short- to medium-term finance of up to $89.3 million. The financing is as part of an amended credit facility with an affiliate of Suez Energy South America Participaes Ltda. Costa Rica: Registry to protect financial assetsFriday, January 23, 2009 The system will allow for the protection of financial assets from fraud, and will detect fraud instantly and prevent it from happening. Nacion.com reports: "This is the Registry of Financial Assets (RAF, www.ifar.bz), which will allow users to register bank accounts, term deposit certificates and any other assets which can be subject to fraud. Trump Ocean Club Debt RestructuredFriday, February 1, 2013 The developer Newland International Properties has agreed with its creditors to a major restructuring of the principal debt in bonds for $200 million. Newland International Properties, Corp., developer of the Trump Ocean Club International Hotel and Tower Panamá, said the agreement was developed based on information received by the majority of creditors and establishes each of the terms of the financial restructuring of the two entities. Taiwan Bank Fined for Operations in PanamaMonday, August 22, 2016 The Financial Regulator of New York has fined the Taiwanese company Mega International Commercial Bank $180 million, citing irregular transactions in its operations between Panama and New York. The Bank of Taiwanese origin, with global assets worth more than $100 billion, operating in Panama since 1974, violated rules of prevention and control of money laundering when performing certain "suspicious" transactions between the bank in New York and branches in Panama City and the Colon Free Zone. Global Tower Partners Gets $60 million Regional LoanTuesday, April 24, 2012 Eight banks have provide to a Costa Rican subsidiary with its first Latin American syndicated loan to finance the construction of two cell phone towers. "The operation involved Citibank, Banco General, Banco G & T Continental, Corpbanca, MetroBank, RBC Merchant Bank (Caribbean) Limited and Towerbank International. Additionally, Improsa Bank acted as trustee," reported Elfinancierocr.com. Inversiones y Desarrollos, S.A. Company Profile
Represents the Company RTS INTERNATIONAL, Inc. of Kansas Cyty, TX, USA, for the territory of Guatemala and Central America. RTS finance exports through Factoring system. Soho Mall Can Now Be SoldFriday, August 19, 2016 The Bureau of Foreign Assets has extended the license to facilitate the sale of the shopping center in Panama, after authorization was given last month for the transfer of the property to a trust. Prensa.com explains that "...If the sale of assets involves businesses or citizens, the transaction must be authorized by the OFAC, through the issuance of another license. " More Time to Sell Balboa Bank & TrustWednesday, February 1, 2017 An extension has once again been granted, this time until April 7, for the bank and brokerage firm to have access to the US financial market and be able to complete the process of its reorganization and sale. Wednesday February 1, OFAC extends licenses for Balboa and Balboa Bank & Trust Securities, until April 7, 2017. The licenses were due to expire on Friday 3 February. Panama: Bank Buys Insurance CompanyTuesday, October 28, 2014 The purchase of Optima Insurance Company by Capital Bank was confirmed by executives of the insurance firm and now the only thing pending is the formal approval of the Insurance and Reinsurance Regulator. Prior to purchase, 10% of the insurance company was in the hands of Capital Bank, which has now become the sole owner of the insurance firm, which up to September 2014 managed premiums totaling $20 million. Fidelity National Financial Begins Operations in Costa RicaThursday, October 1, 2009 The company provides title insurance and escrow services. It will operate in Costa Rica with the name "Fidelity International Title Costa Rica", and serve the Central American market from there. New Extension for Soho Mall LicenseFriday, March 10, 2017 The US Bureau of Foreign Assets has extended once again, this time until April 28, the license which allows Soho Mall Panama to keep looking for a potential buyer for the mall. The new extension is a sign that the process of selling the mall has not yet been completed, a process for which a trust was created in December last year to which the assets of the company owned by Waked were transferred. To be sold, the buyer of mall must prove that it does not have any links with the Waked companies. Tocumen to Issue $650 Million in BondsWednesday, July 10, 2013 The bonds will be issued in July and August, and the funds will be used for the airport's expansion program, said the operator of Tocumen International Airport. According to the Minister of Economy, Frank De Lima, the securities will be issued both in the local and international markets, but the percentages for each have not yet been established. Tocumen Bonds Sale Canceled Because of Waked CaseWednesday, May 11, 2016 As a holder of concessions for duty free shops WISA contributes 7% of the revenues of Tocumen SA, and its inclusion in Clinton list has rattled investors. An article in Prensa.com reports that yesterday "... the stock broker Citivalores informed the Stock Exchange of Panama that the initial purchaser of the issue, Citigroup Global Markets, decided that the original conditions set out in the purchase agreement had not been met and voided the bond offer made on May 4 and whose closing date was May 11." Guatemala: Bancafé Funds in DisputeWednesday, August 8, 2012 Two institutions are complaining about funds that were recovered through the Trust for Excluded Assets of Banco del Café S.A.. The custodian of the assets of Bancafe International Bank (BIB, off shore financial branch of Bancafé), Pricewaterhouse Coopers EC Inc. (PWC) is calling for funds to be distributed among investors. Funding for the Fourth Bridge over the CanalMonday, September 5, 2016 Half of the $1 billion project cost will be provided by the state and the rest by a bond issue on the part of the National Highway Company which will be repaid by tolls. The $500 million that Empresa Nacional de Autopistas (ENA) plans to issue under the framework of the recently approved law reform, will be repaid with revenue generated through a toll charged for crossing the bridge. |
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