ANNUAL MEETING: CLEAR GOALS FOR 2019
The CIFI Annual Meeting was held in Panama on January 18th. The entire CIFI team participated in the company’s performance review for 2018. During the retreat, the CEO shared CIFI’s vision for 2019, the market situation in the region and challenges to overcome in 2019.
2019 BEACH CLEANUP
CIFI carried out a beach cleanup in Veracruz at the end of March, with the collaboration of MiMar Foundation, a community movement focused on ocean preservation. This is the second year that CIFI participates in a beach cleanup, reflecting CIFI’s team commitment to the environment.
CIFI’S EXPERTS SHARE THEIR PROFESSIONAL EXPERIENCES
Experts from CIFI’s Business Origination and Legal areas, Johanna Gomez and Rosalia Roman-Urcuyo, respectively, participated as panelists in two important events that took place in Latin America. RECAM 2019 is one of the main congresses on renewable energies in Central America and the Caribbean, held in Panama City. The Annual Congress of the International Bar Association is the largest international gathering of professionals, law firms and legal associations, held in Santiago, Chile.
DEALS - SOME OF OUR 2018 PROJECTS
CIFI led the structuring and syndication process for the financing of several projects in the region during 2018. These projects include the biomass power plant in Santa Rosa, Province of Corrientes in Argentina, Paraguay’s first private containerized port Caacupe-Mi and the photovoltaic plant Panasolar located in Aguadulce, Province of Cocle, Panama.
In 2016, CIFI’s Board of Directors approved a new funding strategy, focused on the following pillars: (i) diversification, (ii) raising short-term funding and (iii) access to capital markets. As part of the execution of this strategy, CIFI engaged MMG Bank Panama to lead the registration of two debt issuing. In August 2018, the Panama Stock Exchange awarded CIFI the distinction of "Market Champion for Best Short-Term Bond Issuer", recognizing CIFI’s role in strengthening the development of Panama’s capital market.
CORPORATE SOCIAL RESPONSIBILITY – CIFI VOLUNTEERS
The CIFI team participated in Junior Achievement, an initiative aimed at teaching children about finance and entrepreneurship at the Juan B Sosa School. CIFI volunteers also planted trees to support efforts towards environmental reforestation, as part of a project led by the Alliance for the Million Hectares.
CIFI PLACED USD60 MILLION IN MEDIUM – TERM BONDS IN THE EL SALVADOR CAPITAL MARKETS
For the first time, CIFI has placed USD$ 60 million in medium-term bonds maturing in 6 and 7 years among institutional investors in the El Salvador Capital Markets.
This and other issues, which to date reach USD $100 million in medium-term notes, have helped the continued development of regional capital markets, according to the objectives outlined in the Strategic Business Plan of CIFI.
CIFI AND AFI UNIVERSAL PRESENT THE INVESTMENT FUND FOR THE DEVELOPMENT OF DOMINICAN INFRASTRUCTURES
This is the first fund designed for the pension funds in the Dominican Republic that will allow channeling the resources of workers through infrastructure projects, creating the desired virtuous circle that captures the savings of workers accumulated in the Individual Capitalization Accounts to make the retirement of Dominican retired more robust.
CIFI SHARED ITS EXPERIENCE AND KNOWLEDGE IN THE GLOBAL CLIMATE PARTNERSHIP FUND ACADEMY
In the framework of the Global Climate Partnership Fund Academy, CIFI was part of the discussion about the importance of environmental and social standards use in the financing of infrastructures, as well as in the talk regarding opportunities and challenges offered by the market to continue advancing in the development of renewable energy projects.
CIFI WINS BEST SHORT – TERM DEBT ISSUANCE AWARD GRANTED BY THE STOCK EXCHANGE OF PANAMA
At the XIX Investors Forum, held by the Stock Exchange of Panama, the "Market Champions 2018" awards were presented to honor institutions and individuals that support the development of Panama's capital market. On this opportunity, CIFI was awarded for the "Best short-term debt issuance", as it is a non-bank financial entity that debuted for the first time as an issuer in Panama. So far in 2018, CIFI has issued a total of $ 127 million dollars in the capital markets of Panama and El Salvador.