NEW YORK, June 25, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that the investment banking division of its wholly-owned subsidiary INTL FCStone Securities, Inc. successfully placed a non-recourse US $70.2 million performance bond guaranteeing the supply of capacity and energy for 20 years under a power purchase agreement with the Panamanian distribution companies Empresa de Distribución Eléctrica Metro-Oeste, S.A., Empresa de Distribución Eléctrica Chiriquí, S.A., and Elektra Noreste, S.A. The performance bond, placed with the support of the international reinsurance markets, will help facilitate the construction and operation of a 550 MW combined cycle gas turbine (CCGT) power plant that will consume natural gas as its fuel.
Camilo Salomon, Managing Director, Infrastructure Project Finance of INTL FCStone Securities, Inc., said, "In advance of our Project Finance Advisory role, placing a pure project finance, non-recourse bond of this size in Panama represents a strong vote of confidence from international investors in both the project and the country."
The performance bond is another step in the process through which INTL FCStone Securities Inc. is leading for its client LNG Group Panama, S.A. and its project-level vehicle, Panama NG Power S.A., in support of their power tender bid on April 30 th 2013.About INTL FCStone Securities Inc. INTL FCStone Securities Inc. provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, power generation and real estate sectors. INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly-owned subsidiary of INTL FCStone Inc. (Nasdaq:INTL). About INTL FCStone Inc. INTL FCStone Inc. (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 customers in more than 100 countries through a network of offices in twelve countries around the world.