Thus, COFIDES has joined this issuance of bonds which Sampol Group has launched in order to diversify its financing sources for international growth.
Along with the participation of other investors who have signed onto this issuance, Sampol has obtained a total financing of 25 million euros to develop their international strategy, which includes the construction of four tri-generation plants at different hotel complexes in the Caribbean region. With these projects, it is expected that 120 jobs will be created.
COFIDES has previously collaborated with Sampol Group in two operations to boost their expansion in Italy and their international development through affiliates in Panama, the Dominican Republic and Mexico.
The Chairman of COFIDES, José Luis Curbelo, has ensured that “this is an innovative operation for the company, which shows its flexibility and capacity for innovation in adapting to the needs of the market.” Curbelo explained that, through this formula, COFIDES “provides stability and security to companies which pursue to grow with their projects abroad.”
The Chairman of the Sampol Group, Gabriel Sampol Mayol, has stated their joy and satisfaction “in having COFIDES among the investors in our bond issuance. By means of this issuance, our journey begins on the bond market and opening new pathways for us to diversity our financing sources and to strength our long-term strategy”.
Sampol Group is a multinational group dedicated to executing energy projects, electromechanical installations, communication networks and control systems, as well as the promotion, construction and operation of sustainable energy generation plants. Sampol is permanently present in Spain, Mexico, the Dominican Republic, Jamaica, Italy, Costa Rica, Panama and Cabo Verde, and throughout its 85 years of history it has carried out international projects in 17 countries. In 2017 SAMPOL Group obtained a consolidated income of 142.8 million euros and an EBITDA of 20.8 million euros and currently employs more than 1,500 workers.
COFIDES is a public-private company which since 1988 has offered financial support to investments by Spanish companies abroad. It exclusively manages the FIEX and FONPYME state funds on behalf of the Secretary of State of Trade, ascribed to the Ministry of Industry, Commerce and Tourism. In its shareholding, they also have the participation of Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.