New Issuer on Salvadoran Stock Exchange

Credicomer constitutes a new issuer of securities, kicking off business with an issue of $2 million.

Friday, February 24, 2012

Credicomer, Savings and Loan Company is a new issuer on the Salvadoran Stock Exchange (BVES). This week it made its first release totaling $2 million, reported ElSalvador.com.

This issue is part of the Papel Bursátil program, which will total $20 million. Credicomer will use the funds for growth in the area of micro, small and medium enterprises in El Salvador.

"Diversification and the financing conditions that we will get through the issue at the exchange is a fundamental pillar in the development strategy and strengthening of Credicomer, ensuring access to an efficient source of working capital will enable us to strengthen and expand our operations in the short and medium term," said Roger M. Avilez, vice president of Credicomer.

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