GRUPO ATLÁNTIDA WILL INVEST $ 150 MILLION IN HONDURAS AND EL SALVADOR

‘‘The expansion of the commercial operations of the Atlántida Financial Group represent an investment of 3,500 million lempiras. These funds come from the placement of credit notes for 150 million dollars in the Singapore stock market and will be executed in the short term,’’ revealed the CEO of the Atlántida Financial Group, Guillermo Bueso. In an interview with D & N, he revealed that most part "will be invested in Honduras" and in El Salvador.

The bond issuance of 150 million dollars has an expiration date of July 2022 at an interest rate of 8.25%. This is the first operation of its kind executed by a business conglomerate of purely Honduran capital, with the support of Oppenheimer & Co, in charge of handling the placement. "At the moment with these results we are quite satisfied, and we plan to start financing our expansion," he declared.

Big investments, big projects.

Guillermo Bueso said that they keep betting on investments focused on large projects that boost the country's development, in fields such as construction, health, commerce, agriculture and call centers. He revealed that they are structuring two large energy projects: "We must ensure the sustainability of Honduras’ water potential, precisely with the protection of watersheds. It should be done with a brutal transparency, with eyes wide open, we should ensure that these are projects executed for the service and benefit of society, of the state, and all Hondurans," Bueso assured. Another investment in sight is Palmerola International Airport.

Banco Atlántida and Invatlan are part of the pull of six financial institutions that will provide an initial syndicated loan of 69.5 million dollars for the construction of the airport in Comayagua.

El Salvador

Bueso confirmed that a percentage of the funds will be directed to strengthen the presence of the Atlántida Group in El Salvador, where the largest regional pension fund company already operates with success, AFP Confía, and are awaiting the authorization of the purchase of a bank. Why El Salvador? "Because it is a known market," he said, "and if we will make a strong investment in a country, we will have to imbibe all the aspects that support it."

On the not-so-positive macroeconomic conditions of the neighboring country, he responded that he pauses ‘‘to consider the risks involved; however, these investments are made at 30, 40 or 50 years, if not 100, and here we are in a bank that demonstrates it. Therefore, it is possible that the start might be somehow difficult, but considering the operations we already have in course, we have truly interesting opportunities to finish developing the financial group in that country, and that is precisely what we are doing."