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San Salvador, El Salvador

Accounting and financial reporting, U.S. GAAP reporting, purchasing, tax and compliance with all policies and procedures required by the strategic shareholder AEI (formerly Ashmore Energy International).

Delsur is an electric energy distribution company with $157.5 million in assets, $267million in revenues, EBITDA of $28 million and net income of $13 million. Over 322,000 customers served (2011 figures).

Assigned within executive team to position the company to seek rate relief and successfully operate in an adverse environment after a significant regulatory rate reduction in 2008.

Implemented cost control initiatives and reduced personnel within area of responsibility.

In August 2008, DELSUR completed a $75 million senior term loan with HSBC, Banco General, Scotiabank and Trust Company of the West. The use of proceeds included payment of dividends that enabled AEI El Salvador Holdings to repay a $100 million bridge loan used to acquire an 86.4% interest in Delsur.

In October 2008, DELSUR contracted a $37.5 million interest rate cap to comply with the term loan requirements. This transaction represented a notional amount of 50% of the loan that was closed in August 2008.

Reorganized the area of responsibility, implemented cost control initiatives to enable operation in an adverse environment after a significant rate reduction in 2008. Reduced personnel in area of responsibility.

Achieved savings in local insurance program by revising deductibles and coverages. Aggressively sought reductions in all-risk policies and other policies by reviewing coverages.

Optimized tax policies and aggressively sought reimbursement of taxes that were overpaid. In April 2008. Delsur received a refund of over $200,000 that had been pending for over a year.

Managed liquidity to meet all cash requirements in adverse regulatory environment that included a 6 month lag in the recovery of true costs of energy purchases.

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Calle 60 Este, P.H. Vista Obarrio, Ciudad de Panamá,Republica de Panama
H (507) 210-1990 | C (507) 6536-6711
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