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Reflecting on Our Role as a Facilitator of Access to Regional Markets for Foreign Investors
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CIFI’s recent green bond issuance is not just a financial achievement but a step forward in our mission of sustainability and leadership in the capital markets of Latin America and the Caribbean. By being the first private Panamanian issuer to use Euroclear’s iLink connection, we have set a precedent in the region, demonstrating that it is possible to align financial operations with environmental imperatives.
This green bond issuance, structured to be amortized over four years, reflects our dedication to projects that generate stable economic returns while positively contributing to the environment. The funds raised will be directed toward renewable energy projects, underscoring our commitment to climate change mitigation through the promotion of sustainable infrastructure.
The success of this issuance is a testament to the trust placed in us by the Development Bank of Latin America and the Caribbean (CAF). Additionally, this milestone enhances our global visibility, attracting investors who value environmental responsibility and are willing to support sustainable development in Latin America and the Caribbean.
Collaboration with institutions such as the Superintendency of the Panama Securities Market, the Latin American Stock Exchange (Latinex), and Euroclear has been crucial in achieving this accomplishment, the result of over a decade of work to internationalize Panamanian issuers and facilitate their access to international markets.
Looking ahead, CIFI will continue to explore and leverage new technological platforms that allow us to diversify our funding sources and execute transactions more efficiently. We will accompany the evolution of capital markets and be pioneers in integrating innovative financial solutions that support our sustainability goals.
We are proud to lead by example and be part of a movement that seeks to generate sustainable returns for the benefit of communities and the environment.
Read press release
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Helena Teppana Brings New Energy to the Board of Directors
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We are pleased to announce that Helena Teppana has joined CIFI’s Board of Directors, reinforcing our commitment to diversity and inclusion. Helena replaces Pertti Nurmio as a representative of the Finnish Fund for Industrial Cooperation (Finnfund). With an impressive track record in the renewable energy investment sector, Helena brings a valuable perspective and unparalleled experience to our team.
Helena holds an MBA from Aalto University and a bachelor's degree in Russian and German languages from the University of Joensuu, both in Finland. Her career has been marked by her leadership at Finnfund, where she has been a driving force in the energy team as Associate Director and Senior Investment Manager.
With over two decades of experience on boards and investment committees, Helena has played a crucial role in renewable energy projects globally, covering regions such as Africa, Asia, and Central America. Her presence on the boards of companies such as Fortum Charge & Drive India Pvt Ltd and Lake Turkana Wind Power Ltd., along with her participation in investment committees such as ElectriFi and the Interact Climate Change Facility, underscores her firm commitment to sustainability and innovation.
Helena’s appointment represents a significant milestone for CIFI, as with her inclusion, we reach 43% female representation on our Board of Directors. This advancement, reflecting a notable increase from the previous 28%, reaffirms our commitment to gender equality within our governing bodies, aligned with our corporate strategy.
Learn more about Helena by visiting her profile on our website
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CIFI’s Participation in Regional Events
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MTCC Latam Regional Workshop
CIFI participated in the Regional Workshop "The Role of the Banking Sector in Decarbonizing the Maritime Sector," organized by the Maritime Technology Cooperation Center for Latin America (MTCC Latam) and the International Maritime University of Panama (UMIP) on July 15-16 at the Mercantil Bank Auditorium in Panama. Carla Chizmar, Head of CIFI’s Environmental, Social, and Governance (ESG) department, was a speaker on a panel where she shared the company's experience in developing ports and maritime terminals in Latin America and the Caribbean.
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Family Office & Investors Summit 2024
Our CEO, César Cañedo-Argüelles, was a speaker on the panel "Investment and Financing Opportunities in Central America and the Caribbean" at the Family Office & Investors Summit 2024, organized by Black Bull Investors Club, held on June 20, 2024, at The Santa María Collection Hotel & Golf Resort in Panama. His extensive experience and leadership in the sector enriched the discussions and offered key insights into investment in energy and infrastructure in the region.
Webinar by ResponsAbility Investments AG, Engie Impact, and Finergreen
On June 11, Nicolas Giancola, CIFI’s Origination Manager, participated as a speaker in a webinar organized by responsAbility Investments AG, ENGIE Impact, and FINERGREEN. The event focused on exploring strategies to drive climate finance in Latin America and the Caribbean, addressing crucial topics such as distributed generation, batteries, energy efficiency, and electric mobility.
Nicolas' participation in this webinar underscored CIFI’s commitment to sustainability and the development of innovative financial solutions that support the transition to a low-carbon economy.
Watch Nicolas' participation
Latinex Stock Market Wednesdays
César Cañedo-Argüelles, CEO of CIFI, participated in the Stock Market Wednesdays of the Americas, organized by the Latin American Stock Exchange (Latinex). In his presentation on May 29, he addressed the topic of "Infrastructure Project Financing through Thematic Instruments in Latin America."
During his presentation, César emphasized CIFI’s commitment to developing innovative and sustainable financial solutions that support infrastructure in Latin America and the Caribbean, highlighting the importance of a dynamic and well-structured capital market for the region's economic growth.
LATAM GRI Infra & Energy 2024
At the LATAM GRI Infra & Energy 2024, held in New York on May 15-16, César Cañedo-Argüelles, CEO of CIFI, joined global leaders to explore opportunities in the development of projects in Latin America and the Caribbean. During the event, key strategies were discussed with investors, banks, and government authorities to drive impact investment and promote the advancement of infrastructure in the region.
In his remarks, César highlighted the importance of financing renewable energy projects and resilient infrastructure, underscoring CIFI’s leadership in the region regarding sustainable development and the creation of innovative financial solutions for infrastructure development.
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CIFI and BID Invest Promote the Expansion of Sustainable Logistics Infrastructure in Peru
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CIFI, through its subsidiary CIFI Services S.A., structured a USD 10 million subordinated loan for Almacenes del Norte (ADN) in Peru. This financing was provided by the CIFI Latam S.A. subsidiary, in conjunction with the CIFI Sustainable Infrastructure Debt Fund L.P. (Sustainable Fund).
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The financial package also included partial participation in a senior loan structured by BID Invest, a member of the Inter-American Development Bank Group, for a total amount of USD 53 million.
The funded project, ADN Parque Logístico Callao, is the first sustainable logistics park in Peru. Designed under the latest trends in logistics architecture, it aims to improve access to logistics services in Ventanilla, Callao. In its first phase, the park will include 129 Class A and B warehouses with high-quality standards.
ADN Parque Logístico Callao will integrate various environmental measures, including energy efficiency systems, low-consumption LED lighting, renewable energy generation with solar panels, and a wastewater treatment plant to irrigate 28,000 m² of green areas with recycled water.
Ramón Candia, CIFI’s Chief Investment Officer, highlighted that this project promotes competitiveness and regional integration in a sustainable manner, making ADN a benchmark in environmental management in the warehousing and logistics industry in the region.
The park will be strategically located near major ports and transportation routes in Lima, helping to decongest important commercial circuits and improving market efficiency. It is expected to generate 2,000 direct jobs and numerous indirect jobs, benefiting local communities. Additionally, priority will be given to hiring workers from neighboring areas, contributing to security and the development of new services in the region.
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Reporting on the Impact of Our Investments
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Our new reports are now available and showcase how we are transforming infrastructure and promoting a sustainable future. We invite you to explore them and discover the impact of our investments.
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2023 Finance and Sustainability Report
For the first time, our annual report highlights relevant financial and non-financial information that has led to success in achieving a positive impact through sustainable investments in Latin America and the Caribbean, reflecting our commitment to generating sustainable returns for the benefit of communities and the environment.
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2023 Sustainable Infrastructure Debt Fund Report
Details the investments made in sustainable infrastructure projects through the CIFI Sustainable Infrastructure Debt Fund, highlighting the positive impact on emission reductions and economic growth in the region.
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Closed Investment Fund for the Development of Dominican Infrastructures I
Focused on infrastructure development in the Dominican Republic, this report highlights the fund’s support for renewable energy, hospitality, and liquefied natural gas projects.
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CIFI Leads the Internationalization of Private Issuers in Panama
CIFI made a historic issuance by launching its series of green bonds through Euroclear, reaching an amount of USD 10 million. This milestone, achieved through Phase II of the iLink, positions CIFI as the first private Panamanian issuer to achieve such a transaction, marking a significant step in the internationalization of private securities issuers in the country.
The Development Bank of Latin America and the Caribbean (CAF) acquired the green bonds with financing from the KfW Development Bank’s Climate Change Program II of Germany. The funds raised will be directed toward renewable energy projects that contribute to climate change mitigation in Latin America and the Caribbean.
During the bell-ringing ceremony at the Latin American Stock Exchange (Latinex), this significant milestone was celebrated, reaffirming CIFI’s commitment to sustainable development and the mobilization of capital toward projects with a positive environmental impact.
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This achievement reflects the joint efforts of Latinex, MMG Bank, Morgan & Morgan, and other institutions that supported the structuring and legal advice of the issuance, highlighting CIFI’s role in the internationalization of the Panamanian capital market and opening doors to future issuances that promote greener and more sustainable development.
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The CIFI Team Participates in a Reforestation Day in Cabobré
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CIFI joined an important reforestation day at Finca El Chumico, Cabobré, organized by the Ministry of Environment and the National Association of Reforesters and Related Parties of Panama (ANARAP for its acronym in Spanish).
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Alongside other private companies and community members, one hectare was reforested with 1,111 seedlings of timber, fruit, and ornamental species, contributing to the protection of the Pacora River basin. This activity reinforces our commitment to sustainability and environmental preservation.
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CIFI video siembra PACORA Agosto 2024
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Strengthening Our Team Culture
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In an event full of energy and enthusiasm, CIFI held a team-building day called ONE CIFI on June 5. All employees participated in activities specially designed to strengthen team culture and foster continuous evolution towards excellence.
This event reflected CIFI’s commitment to building a collaborative and dynamic work environment. The activities allowed employees to connect and share in a relaxed and fun atmosphere, strengthening internal bonds and improving team cohesion.
Together, we continue to build a model of excellence that seeks constant improvement, leading us towards achieving our goals!
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Watch the video and relive the energy that made ONE CIFI an unforgettable experience.
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ONE CIFI Evento
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