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General Intendancy Resolution SMV No. 017-2024-SMV/11.1

Lima, 08 March 2024

The General Intendant of Conduct Supervision

Whereas:

File No. 2024005758, as well as Internal Report No. 263-2024-SMV/11.1, of the General Intendancy of Conduct Supervision of the Deputy Superintendency of Market Conduct Supervision.

Considering:

That, by letter submitted on 12 February 2024, Corporación Financiera de Desarrollo S.A. – COFIDE requested the Superintendency of the Securities Market – SMV, through the Single Window system, the exclusion of the securities called «Fifth Issue of the Second Program of Short-Term Instruments of COFIDE» which were registered and placed within the framework of the «Second Program of Short-Term Instruments of COFIDE», from the Public Registry of the Securities Market and from the Securities Registry of the Lima Stock Exchange, due to total cancellation of the obligations derived from them;

That, it has been verified that on 06 October 2014, within the framework of an anticipated procedure and under an automatic approval procedure, the issuance program called «Second Program of Short-Term Instruments of COFIDE» was registered, up to a maximum outstanding amount of US$ 200’000,000.00 (Two Hundred Million and 00/100 United States Dollars) or its equivalent in Soles, and the corresponding Framework Prospectus was registered in the Public Registry of the Securities Market;

That, within the framework of the «Second Program of Short-Term Instruments of COFIDE», on 02 August 2018, under an automatic approval procedure, the securities called «Fifth Issue of the Second Program of Short-Term Instruments of COFIDE» were registered, up to a total amount of S/ 300’000,000.00 (Three Hundred Million and 00/100 Soles), and the corresponding Supplement to the Framework Prospectus was registered in the Public Registry of the Securities Market and, subsequently, in the Securities Registry of the Lima Stock Exchange;

That, in accordance with the provisions of article 20, numeral 20.1, of the Regulation for Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, approved by SMV Resolution No. 031-2012-SMV/01 and its amending norms, the SMV forwarded the exclusion request to the Lima Stock Exchange, without said entity having made observations to the documentation submitted;

That, from the evaluation of the documentation submitted by Corporación Financiera de Desarrollo S.A. – COFIDE, the submission of the documents referring to the total cancellation of the obligations derived from the securities called «Fifth Issue of the Second Program of Short-Term Instruments of COFIDE» has been verified;

That, Corporación Financiera de Desarrollo S.A. – COFIDE has submitted the information and documentation required by the Single Ordered Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF, as well as by the Regulation for Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, for the purposes of the exclusion of the securities «Fifth Issue of the Second Program of Short-Term Instruments of COFIDE»;

That, from the information in the Public Registry of the Securities Market, it has been observed that the securities called «First Issue of the Second Program of Short-Term Instruments of COFIDE» and «Second Issue of the Second Program of Short-Term Instruments of COFIDE», registered under an automatic approval procedure on 06 October 2014, were not placed within the framework of the «Second Program of Short-Term Instruments of COFIDE» and that the placement period thereof has expired, producing the cessation of public interest and it being appropriate for the General Intendancy of Conduct Supervision to rule ex officio on the exclusion of said securities, in accordance with the provisions of article 25, last paragraph, of the Regulation for Primary Public Offering and Sale of Securities, approved by CONASEV Resolution No. 141-1998-EF/94.10 and its amending norms, and by article 23, penultimate paragraph, of the Regulation for Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange;

That, taking into account the foregoing recitals, it has been determined that with the exclusion of the securities «First Issue of the Second Program of Short-Term Instruments of COFIDE», «Second Issue of the Second Program of Short-Term Instruments of COFIDE» and «Fifth Issue of the Second Program of Short-Term Instruments of COFIDE», all the securities registered within the framework of the «Second Program of Short-Term Instruments of COFIDE» will be excluded from the Public Registry of the Securities Market; that the term of validity of said program has expired, and it is not possible to make new issuances of securities within its framework; and, that the cessation of public interest has occurred; it being appropriate to proceed with the ex officio exclusion of the «Second Program of Short-Term Instruments of COFIDE», in accordance with article 25, last paragraph, of the Regulation for Primary Public Offering and Sale of Securities;

That, Article 39, literals b) and d), of the Single Ordered Text of the Securities Market Law; as well as Articles 20 and 23 of the Regulation for the Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, establish that the exclusion of a security from the Public Registry of the Securities Market takes place by reasoned resolution of the SMV, when the extinction of the rights over the security occurs, by amortization,

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total redemption or other cause; as well as by cessation of public interest over said securities;

That, in this sense, taking into consideration that Article 15 of the Single Ordered Text of the Securities Market Law establishes that in section a) of the Public Registry of the Securities Market securities and issuance programs are registered, the provisions of Article 39 of the same regulation are applicable to issuance programs, since these are subject to registration in the referred Registry;

That, regarding the obligation to carry out a Public Offer of Purchase for Exclusion – OPC when a security is excluded from the Public Registry of the Securities Market, established in Article 41 of the Single Ordered Text of the Securities Market Law and in Article 32 of the Regulation of Public Offer of Acquisition and Purchase of Securities for Exclusion, approved by CONASEV Resolution No. 009-2006-EF/94.10 and its amending norms, it must be noted that the exclusion of the securities called «First Issuance of the Second Program of Short-Term Instruments of COFIDE», «Second Issuance of the Second Program of Short-Term Instruments of COFIDE» and «Fifth Issuance of the Second Program of Short-Term Instruments of COFIDE» are within the exception cause for the non-realization of an OPC, contemplated both in Article 23 of the Regulation for the Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, and in Article 37, literal a), of the Regulation of Public Offer of Acquisition and Purchase of Securities for Exclusion;

That, Article 7, numeral 6, of the Policy on Dissemination of Regulatory Projects, Legal Norms of General Character, Early Agenda and Other Administrative Acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its amending norms, establishes that the decisions contained in administrative resolutions that resolve the exclusion of securities from the Public Registry of the Securities Market must be disseminated through the Institutional Page of the SMV on the Single Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv); and,

In accordance with the provisions of Articles 15 and 39, literals b) and d), of the Single Ordered Text of the Securities Market Law; Articles 19, 20, 21 and 23 of the Regulation for the Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange; Article 25 of the Regulation of Primary Public Offer and Sale of Securities; as well as Article 46, numeral 6, of the Regulation of Organization and Functions of the Superintendence of the Securities Market, approved by Supreme Decree No. 216-2011-EF and its amendments, which empowers the General Intendancy of Supervision of Conducts to order the exclusion of securities from the Public Registry of the Securities Market.

Resolves:

Article 1°.- Order the exclusion of the securities called «Fifth Issuance of the Second Program of Short-Term Instruments of COFIDE», corresponding to the «Second Program of Short-Term Instruments of COFIDE», from the Public Registry of the Securities Market.

Signed by: GODOS GARCIA Alix Fernando | Reason:

Article 2°.- Order the ex officio exclusion of the securities called «First Issuance of the Second Program of Short-Term Instruments of COFIDE» and «Second Issuance of the Second Program of Short-Term Instruments of COFIDE», corresponding to the «Second Program of Short-Term Instruments of COFIDE», from the Public Registry of the Securities Market.

Article 3°.- Rule in favor of the exclusion of the securities indicated in the preceding articles, from the Securities Registry of the Lima Stock Exchange.

Article 4°.- Order the ex officio exclusion of the «Second Program of Short-Term Instruments of COFIDE» from the Public Registry of the Securities Market.

Article 5°.- Disseminate this resolution on the Institutional Page of the SMV on the Single Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv).

Article 6°.- Transcribe this resolution to Corporación Financiera de Desarrollo S.A. – COFIDE, as issuer; to the Lima Stock Exchange S.A.; and, to CAVALI S.A. I.C.L.V.

Alix Godos
General Intendant
General Intendancy of Supervision of Conducts

General Intendancy Resolution SMV No. 017-2024-SMV/11.1

General Intendancy Resolution SMV No. 017-2024-SMV/11.1

Whereas:

Considering:

Resolves:

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