BEST FINANCING INNOVATION

BEST FINANCING INNOVATION

Funds

Yucatan-based grower Agropecuaria Santa Genoveva (AGSA) developed a groundbreaking wood-revenue securitization structure in order to raise 1.65 billion pesos from the Afores in July, winning it the LatinFinance award for Best Financial Innovation.AGSA, a subsidiary of Grupo Empresarial Guerra, had been looking for more than four years to tap pension funds to support its production of teak wood, a specialty material used in products including outdoor furniture. The 18-year life cycle of the teak tree makes it a great candidate for long-term investment, explains Pablo Acedo, CFO at Cotemsa, a sister company which handles the Guerra group’s finances and structured the AGSA transaction.The

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