Colombia is set to export $8,524 MM in agricultural products, $3,003 MM of which are non-traditional. By July, $4.48 3 MM were exported. Markets include Pineapple to Canada, Hass avocado to Argentina, Shanghai, and Japon, beef to and Egypt and Russia, pork to Hong Kong and the Côte d'Ivoire, and quinoa to Mexico, China and Spain.
Avianca Holdings announced that it has secured commitments for debtor-in-possession (DIP) financing totaling just over US$ 2.0 billion and has filed a motion to approve the financing in the U.S. Bankruptcy Court for the Southern District of New York. The DIP financing consists of a US$ 1.27 billion Tranche A senior loan and a US$ 722 million Tranche B subordinated loan. The DIP financing includes approximately US$ 1.217 billion of new funds consisting of US$ 881 million in Tranche A and US$ 336 million in Tranche B.
The Colombian Finance Superintendence announced that three new banks (JP Morgan, BTG Pactual and Lulo Bank), four financing companies (Scotiabank ENEL, Ualá and Santander), three SEDPEs (companies Specialized in Deposits and Payments) and two crowd funding platforms could enter the Colombian market.
The electricity grid of the Caribbean Coast has gone without maintenance for more than a decade. The new infrastructure will include seven new substations, 12 new circuits, eight power transformers and 4,642 distribution transformers, as well as 194Km of intervened electrical networks. Electricaribe caters to households, commercial and industrial clients.
Colombia began yesterday the first phase of reactivation of the international operation of commercial flights out of Bogotá, Cali, Medellín, and Cartagena with return flights to Fort Lauderdale in the United States. On Wednesday, flights from Medellin to Miami will return with a daily frequency. International passengers will have to show a negative Covid-19 PCR test. The domestic operation continues to reactivate, with 63 routes in 46 airports to connect the national territory.
Marco Financial—the first tech-enabled financing platform built for small and medium-sized Latin American exporters—today announced it has secured $26M in funding and credit that will enable the company to address the $1.5T global trade finance gap that disproportionately impacts small-and medium-sized (SME) businesses. Marco supports SMEs based in Latin America, where a $350 billion trade finance gap blocks many exporters from the U.S. market. The funding includes an equity round, led by Struck Capital and Antler, and a credit facility underwritten by Arcadia Funds, LLC.