"The securitization figure offers private and public sector entities competitive and transparent financing. Being publicly offered securities, it makes available to investors all the relevant information of the issue and the administration of the Fund. The issue placed today has been structured in such a way that it has the most attractive characteristics for local and foreign investors. This Fund represents an issuance of US$124 million, making it an efficient option for the financial needs of the Municipality of San Salvador", said Rolando Duarte, President of the Bolsa de Valores de El Salvador.

The mayor, Mario Durán commented that in the Mayor's Office: "We have incurred in this financial strategy to stabilize the finances of the Mayor's Office, in order to have the necessary resources to be able to execute all the projects for the benefit of the citizens".

Roberto Valdivieso, Manager of Issuance Structuring said: "Hencorp is proud to accompany the Municipality of San Salvador for the fifth time in its use of the local securities market, via securitization, to obtain custom-designed financing for the municipality. The issuance is strategic for the Municipality, with a part of the funds that will be destined for the reorganization of the municipal finances, optimizing the capital structure and deleveraging the Municipality in order to provide flexibility to the Municipal Government for its optimal and responsible operation...With this issuance, Hencorp Valores, as leaders in the securitization market, has successfully structured and placed more than US$1,000 million dollars in Securitization Securities in the Salvadoran securities market. Hencorp is constantly innovating, providing our originators with the optimal solution for their needs, and giving investors safe and attractive alternatives for the diversification and profitability of their portfolio".

Ronald Ventura, Risk Manager, comments on the characteristics of the Securitization Securities issue: "On this occasion we bring to the market a new securitization with municipal risk, including all the credit enhancement mechanisms that we usually incorporate in issues of this nature: restricted account, collection of municipal rate flows by the Securitization Fund through the different collectors, and explicit hedges related to the Municipal Indebtedness Law. However, we bring in this structure two important elements that have significantly profiled the risk of the Securitization Fund: i) for the first time we incorporated a capital amortization acceleration mechanism, which comes into operation upon a breach of the operating efficiency ratio, where the Municipality commits that its operating expenses will not exceed its operating revenues - very much in line with the Municipality's current strategy -, and ii) we incorporated active collection mechanisms on municipal rates, through the CAESS and DelSur collectors, thus diversifying the risk and increasing the hedges on the monthly assignment amount. This structure has given us two excellent ratings, investment grade and stable outlook by Fitch Ratings and PCR".

For Hencorp S.A. de C.V., Casa de Corredores de Bolsa, it is an honor to be the entity responsible for the placement of what is to date the largest private issuance in the securities market in El Salvador this year. The excellent risk ratings and the attractive yield have allowed several natural and institutional investors to participate in this issue, making this placement for more than US$109 million successful, and with this they have once again given their vote of confidence to the Municipality of San Salvador and the securities market. Subsequently, we will place other tranches according to the financial needs of the originator", commented Francisco Santa Cruz Pacheco, Business Manager of Hencorp S.A. de C.V., Casa de Corredores de Bolsa.

The President of the Bolsa de Valores"we recognize the impact that the figure of Securitization has had in our country, it is a versatile instrument for any funding need for all economic sectors of the country, and the figures do not let us lie, from 2010 when we see the first securitization fund registered and traded in our market, to date we have managed to mobilize more than US$1,300 million in assets. Of these, 76% correspond to originators from the public sector (municipalities and autonomous institutions) and 24% from the private sector (represented by sectors: financial, construction, tourism, education, real estate, services, among others)".

New issues in the stock market are always good news, as they reaffirm the confidence that participants have in it as an efficient and transparent vehicle for financing and investment.

"This motivates us to continue working to further develop our stock market and to seek through innovation new products and services that meet the needs of an increasingly demanding securities market", concluded Rolando Duarte, president of the Bolsa de Valores.