INTL FCStone Inc. Advises Panama NG Power S.A. in the Signing of 20-Year Power
NEW YORK, July 30, 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 advised LNG Group
Panama, S.A. and its project-level vehicle, Panama NG Power S.A., as it
entered into 20-year power purchase agreements (PPA) for a total of 550
megawatts (MW) which will supply firm capacity and energy to the regional
Panamanian energy distribution companies Empresa de Distribución Eléctrica
Metro-Oeste, S.A., Empresa de Distribución Eléctrica Chiriquí, S.A., and
Elektra Noreste, S.A.
Camilo Salomon, Managing Director of Infrastructure Project Finance of INTL
FCStone Securities Inc., commented, "The signing of these PPAs marks a major
milestone in a tender process that resulted in competitively priced power for
Panama, helping diversify the country's energy matrix. Securing these PPAs
will provide the residents of Panama with access to a cleaner, more reliable
The contracts were yet another step in a successful process led by INTL
FCStone Securities Inc. while advising LNG Group Panama, S.A. in support of
their power tender bid on April 30th, 2013. This will support the construction
and operation of a natural gas combined cycle gas turbine (CCGT) power plant
and a cryogenic storage terminal for liquefied natural gas (LNG) in all its
phases, including reception, storage, regasification, and distribution.
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, and power generation 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
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