NEW YORK, July 30, 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 advised LNG Group Panama, S.A. and its project-level vehicle, Panama NG Power S.A., as it entered into 20-year power purchase agreements (PPA) for a total of 550 megawatts (MW) which will supply firm capacity and energy to the regional Panamanian energy distribution companies Empresa de Distribución Eléctrica Metro-Oeste, S.A., Empresa de Distribución Eléctrica Chiriquí, S.A., and Elektra Noreste, S.A.
Camilo Salomon, Managing Director of Infrastructure Project Finance of INTL FCStone Securities Inc., commented, "The signing of these PPAs marks a major milestone in a tender process that resulted in competitively priced power for Panama, helping diversify the country's energy matrix. Securing these PPAs will provide the residents of Panama with access to a cleaner, more reliable energy source."
The contracts were yet another step in a successful process led by INTL FCStone Securities Inc. while advising LNG Group Panama, S.A. in support of their power tender bid on April 30th, 2013. This will support the construction and operation of a natural gas combined cycle gas turbine (CCGT) power plant and a cryogenic storage terminal for liquefied natural gas (LNG) in all its phases, including reception, storage, regasification, and distribution.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, and power generation sectors. INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly owned subsidiary of INTL FCStone Inc. (Nasdaq:INTL).
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