Mexico City, June 13, 2022 – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox Energy”, “Cox Energy América” or “the Company”) (BIVA/BMV: COXA*), the first photovoltaic solar energy company to be listed on a Latin American stock exchange, announces to its shareholders and the general public that its main shareholder, Cox Energy Solar S.A. (Cox Energy Solar), has signed a credit facility for EUR 30,000,000.00 (30 million euros) with Barclays Bank Ireland PLC (Barclays), which it will use to finance its subsidiary Cox Energy América. The financing is structured with Cox Energy América as the guarantor.
Likewise, Cox Energy Solar and Cox Energy América entered into an intercompany transaction in which Cox Energy Solar will provide a loan for the corresponding amount to Cox Energy América, which will be used to continue with its 2022 expansion and growth plans. This transaction was previously authorized by the Corporate Practices Committee, the Audit Committee, and in the Annual Shareholders’ Meeting.
José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy, commented: “This transaction reflects the confidence in our expansion and growth plan, and will make it possible to continue with the execution of our proposed strategies. With this funding, the Company will continue to strengthen its liquidity levels to meet challenges and maximize investment opportunities and returns.”
He added: “In line with our ESG commitment, and to benefit our stakeholders, we will enhance our economic and productive capacities with ecofriendly and innovative solutions, to achieve our commitments set out in the 2021-2025 Strategic Plan.”
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