The El Salvador Stock Exchange welcomes CIFI, the first panamanian company to issue securities in the Salvadoran stock market through securitization; this new fund reaffirms the strength of our stock market to access financing with competitive conditions that are in line with companies' financial objectives and projections.

"The securitization figure offers companies competitive financing, and since they are publicly offered securities, all the relevant information on the issue and the administration of the Fund is available to investors. The issue that was placed today was structured in such a way that it has more attractive characteristics for local and foreign investors".

This Fund represents an issue of securities for US$100 million, making it an efficient option for CIFI's financial needs, said Valentín Arrieta, general manager of the El Salvador Stock Exchange, who took the opportunity to welcome them to this stock market.

Remo Bardi, executive director of Ricorp Titularizadora commented that "This new securitization of loan portfolio participations for the development of infrastructure, marks a new step in the development of securitized securities, as a financing option for entrepreneurs and risk diversification for investors seeking investments with good profitability and controlled risk.

The creativity and financial innovation of the products structured by RICORP are increasingly contributing to the development of capital markets in the country and the region", he concluded.

The Fondo de Titularización de CIFI placed the Series A, traded through the Electronic Trading System of the SEN Stock Exchange in two blocks, one per US$ 16 million and the second for US$9 million, both for a term of 180 months, with a credit rating of LEVEL TWO granted by SCRiesgo and Zumma Ratings, both credit rating agencies registered with the Superintendencia del Sistema Financiero.

Iván Juárez, general manager of Atlántida Securities, responsible for the successful placement, adds that "The structuring and placement process of this issuance in the El Salvador Securities Market is a very successful process.

The structuring and placement process of this issue in the El Salvador Securities Market is a milestone because it is the first securitization of a loan portfolio to be placed in our market and the first from a panamanian originator.

For investors it is a new opportunity to access sophisticated instruments with an attractive risk profile in accordance with the current context and an excellent option for the diversification of their investment portfolios".

Finally, he said that "This placement continues to position our market as an attractive option for potential regional issuers, demonstrating the technical capacity of our team and the interest of local and regional investors in this type of alternatives".

The Representative of the Tenedores de Valores de Titularización con cargo al Fondo de Titularización CIFI is Lafise Valores Casa de Corredores de Bolsa, an important figure that provides security and protects the interests of investors.

Securitization in our country has become an efficient funding tool that allows companies to obtain financing by selling or assigning in exchange for cash those assets of the company that are likely to generate income in the future.

"Over the years, securitization has allowed different productive sectors to obtain resources to carry out new projects, especially the private sector. Since 2010, when Securitization began in our country, more than US$1,505.84 has been channeled", Valentín Arrieta concluded.