INTL FCStone Inc. Announces the Placement of a US $70.2 MM Performance Bond to
Support Power Purchase Agreement
NEW YORK, June 25, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL)
today announced that the investment banking division of its wholly-owned
subsidiary INTL FCStone Securities, Inc. successfully placed a non-recourse US
$70.2 million performance bond guaranteeing the supply of capacity and energy
for 20 years under a power purchase agreement with the Panamanian distribution
companies Empresa de Distribución Eléctrica Metro-Oeste, S.A., Empresa de
Distribución Eléctrica Chiriquí, S.A., and Elektra Noreste, S.A. The
performance bond, placed with the support of the international reinsurance
markets, will help facilitate the construction and operation of a 550 MW
combined cycle gas turbine (CCGT) power plant that will consume natural gas as
Camilo Salomon, Managing Director, Infrastructure Project Finance of INTL
FCStone Securities, Inc., said, "In advance of our Project Finance Advisory
role, placing a pure project finance, non-recourse bond of this size in Panama
represents a strong vote of confidence from international investors in both
the project and the country."
The performance bond is another step in the process through which INTL FCStone
Securities Inc. is leading for its client LNG Group Panama, S.A. and its
project-level vehicle, Panama NG Power S.A., in support of their power tender
bid on April 30^th 2013.
About INTL FCStone Securities Inc.
INTL FCStone Securities Inc. provides trading, market making, investment
banking and corporate finance services to customers around the globe. The
investment banking division provides capital raising, mergers and acquisitions
advisory, trade finance and bank loan syndication as well as restructuring and
corporate advisory services to middle market firms in the natural resources,
agriculture, financial institutions, power generation and real estate sectors.
INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly-owned subsidiary
of INTL FCStone Inc. (Nasdaq:INTL).
About INTL FCStone Inc.
INTL FCStone Inc. (INTL) provides execution and advisory services in
commodities, currencies and international securities. INTL's businesses, which
include the commodities advisory and transaction execution firm FCStone Group,
serve more than 20,000 customers in more than 100 countries through a network
of offices in twelve countries around the world.
Further information on INTL is available at www.intlfcstone.com.
CONTACT: INTL FCStone Inc.
Director of Public Relations
Press spacebar to pause and continue. Press esc to stop.