News Release


Sumitomo Mitsui Banking Corporation Invests in Financiera de Desarrollo Nacional S.A.(1/1)

April 20, 2015

Sumitomo Mitsui Banking Corporation

 

Sumitomo Mitsui Banking Corporation Invests in Financiera de Desarrollo Nacional S.A.

 

TOKYO, April 20, 2015---Sumitomo Mitsui Banking Corporation (gSMBCh, President & CEO:

Takeshi Kunibe) and International Finance Corporation (gIFCh, Executive Vice President & CEO: Jin-Yong Cai) have entered into a stock purchase agreement, in which SMBC will purchase from IFC 8.8% of the total issued and outstanding shares of Financiera de Desarrollo Nacional S.A (gFDNh). SMBC will nominate a Director as a member of FDNfs Board of Directors.                

 

FDN is a development bank created by the Colombian government in 2011 with the objective to manage and stimulate the financing/structuring of the key infrastructure projects in Colombia. While FDNfs top priority is to support the fourth generation road concessions program (g4Gh) through its services such as financing, guarantee, and advisory, the entity will also focus on other important power and infrastructure projects in the mid-to-long term.

 

SMBC signed a memorandum of understanding (gMOUh) on business cooperation with FDN in July 2014. Under the MOU framework, SMBC and FDN have been closely exchanging information, expertise, and personnel in order to develop finance structures suitable to the countryfs major infrastructure projects and also diversify finance sources. And now, as the sole private investor of FDN, SMBC will further collaborate with FDN to offer know how in infrastructure finance and bring into the market products/services that will contribute to the countryfs strong economic and social development.

 

FDN profile, as of Mar 31, 2015:

(1)   Transformed from Financiera Energetica Nacional S.A. to FDN in 2011

(2)   Headquartered in Bogota D.C., Colombia

(3)   President: Clemente del Valle

(4)   Total assets: Colombian Peso 676.3 billion (equivalent to US$ 260 million)

(5)   Shareholding after   :   Colombian Ministry of Finance and Public Credit             73.5%

SMBC subscription     IFC (International Finance Corporation)                             8.84%                             

                                            CAF (Development Bank of Latin America)                                 8.84%

                                            SMBC                                                                                         8.84%




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