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Resolution of the General Superintendent of Conduct Supervision SMV No. 019-2024-SMV/11.1

Lima, 11 March 2024

The General Superintendent of Conduct Supervision

Seen:

File No. 2024005757, as well as Internal Report No. 247-2024-SMV/11.1, of the General Superintendent of Conduct Supervision of the Deputy Superintendent of Market Conduct Supervision.

Considering:

That, by means of a document submitted on 12 February 2024, Corporación Financiera de Desarrollo S.A. – COFIDE requested from the Superintendency of the Stock Market – SMV, through the Single Window system, the delisting of the securities designated «Octava Emisión de Bonos COFIDE» from the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» of the Public Registry of the Stock Market and the Securities Registry of the Lima Stock Exchange, due to the total cancellation of the obligations arising therefrom;

That, it has been verified that by means of General Management Resolution No. 094-2005-EF/94.11 of 09 September 2005, within the framework of an advance procedure, the issuance program designated «Segundo Programa de Instrumentos Representativos de Deuda de Corporación Financiera de Desarrollo S.A» (today, «Segundo Programa de Instrumentos representativos de Deuda de COFIDE») was registered, for up to a total issued amount of US$ 150’000,000,00 (One Hundred Fifty Million and 00/100 United States of America Dollars) or its equivalent in Soles and/or any other foreign currency, and the corresponding Master Prospectus was registered in the Public Registry of the Stock Market;

That, within the framework of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE», on 12 January 2007, under an automatic approval procedure, the securities designated «Octava Emisión de Bonos COFIDE» were registered, for up to an amount of S/ 50’000,000.00 (Fifty Million and 00/100 Soles), and the corresponding Master Prospectus Supplement was registered in the Public Registry of the Stock Market and, subsequently, in the Securities Registry of the Lima Stock Exchange;

That, subsequently, by means of Issuers Directorate Resolution No. 070–2007-EF/94.06.3 of 28 November 2007, the renewal of the advance procedure corresponding to the public offering of debt instruments of Corporación Financiera de Desarrollo S.A. – COFIDE was approved and the registration of the Second Master Prospectus corresponding to the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» in the Public Registry of the Stock Market was ordered, the same which consolidates the variations made thereto;

That, in accordance with the provisions of Article 20, item 20.1, of the Regulation on Registration and Delisting of Securities in the Public Registry of the Stock Market and on the Trading Floor, approved by SMV Resolution No. 031-2012-SMV/01 and its amending rules, the SMV forwarded the delisting request to the Lima Stock Exchange, without said entity having raised any objections 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 relating to the total cancellation of the obligations arising from the securities designated «Octava Emisión de Bonos COFIDE» of the «Segundo Programa de Instrumentos representativos de Deuda de 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 Stock Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF, as well as by the Regulation on Registration and Delisting of Securities in the Public Registry of the Stock Market and on the Trading Floor, for the purpose of delisting the securities «Octava Emisión de Bonos COFIDE» of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE»;

That, from the information contained in the Public Registry of the Stock Market, it has been noted that the securities designated «Décima Emisión de Bonos COFIDE» and «Décimo Tercera Emisión de Bonos COFIDE», registered under an automatic approval procedure on 31 July 2008 and 13 October 2009 respectively, were not placed within the framework of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» and that the placement period for the same has expired, resulting in the cessation of public interest and requiring the General Superintendent of Conduct Supervision to rule ex officio on the delisting of said securities, in accordance with the provisions of Article 25, last paragraph, of the Regulation on Public Offering and Sale of Securities, approved by CONASEV Resolution No. 141-1998- EF/94.10 and its amending rules, and Article 23, third-to-last paragraph, of the Regulation on Registration and Delisting of Securities in the Public Registry of the Stock Market and on the Trading Floor;

Whereas, having regard to the foregoing recitals, it has been determined that, with the exclusion of the securities "Octava Emisión de Bonos COFIDE", "Décima Emisión de Bonos COFIDE" and "Décimo Tercera Emisión de Bonos COFIDE", all securities registered under the "Segundo Programa de Instrumentos representativos de Deuda de COFIDE" will be excluded from the Public Registry of the Securities Market; that the term of validity of the aforementioned program has expired, making it impossible to carry out new issues of securities under it; and that there has been a cessation of the public interest; requiring the proceeding with the ex officio exclusion of the

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“Second Program of Debt Instruments of COFIDE”, in accordance with Article 25, last paragraph, of the Regulation on Primary Public Offering and Sale of Securities;

Whereas, Article 39, letters b) and d), of the Single Consolidated Text of the Securities Market Law; as well as Articles 20 and 23 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and on the Stock Exchange Floor, 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 rights over the security become extinguished, by amortization, total redemption or any other cause; as well as by the cessation of public interest in such securities;

Whereas, in this sense, taking into consideration that Article 15 of the Single Consolidated Text of the Securities Market Law establishes that section a) of the Public Registry of the Securities Market registers securities and issuance programs, the provisions of Article 39 of the same regulation are applicable to issuance programs, given that they are subject to registration in said Registry;

Whereas, regarding the obligation to carry out a Public Tender Offer for Exclusion – PTO when a security is excluded from the Public Registry of the Securities Market, established in Article 41 of the Single Consolidated Text of the Securities Market Law and in Article 32 of the Regulation on Public Tender Offers and Purchase of Securities by Exclusion, approved by CONASEV Resolution N° 009-2006-EF/94.10 and its amending regulations, it must be noted that the exclusion of the securities designated “Eighth Issue of COFIDE Bonds”, “Tenth Issue of COFIDE Bonds” and “Thirteenth Issue of COFIDE Bonds” from the “Second Program of Debt Instruments of COFIDE” falls within the exception cause for not carrying out a PTO, contemplated both in Article 23 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and on the Stock Exchange Floor, and in Article 37, letter a), of the Regulation on Public Tender Offers and Purchase of Securities by Exclusion;

That, article 7, numeral 6, of the Política sobre Difusión de Proyectos Normativos, Normas Legales de Carácter General, Agenda Temprana y Otros Actos Administrativos de la SMV, approved by Resolución SMV 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 Registro Público del Mercado de Valores must be disseminated through the Institutional Page of the SMV on the Plataforma Digital Única del Estado Peruano para Orientación al Ciudadano (www.gob.pe/smv); and,

In accordance with the provisions of articles 15 and 39, literals b) and d), of the Texto Único Ordenado de la Ley del Mercado de Valores; articles 19, 20, 21 and 23 of the Reglamento de Inscripción y Exclusión de Valores Mobiliarios en el Registro Público del Mercado de Valores y en la Rueda de Bolsa; article 25 of the Reglamento de Oferta Pública Primaria y de Venta de Valores Mobiliarios; as well as by article 46, numeral 6, of the Reglamento de Organización y Funciones de la Superintendencia del Mercado de Valores, approved by Decreto Supremo N° 216-2011-EF and its amendments, which empowers the Intendencia General de Supervisión de Conductas to order the exclusion of securities from the Registro Público del Mercado de Valores.

Documento electrónico fi digitally signed within the framework of Law No. 27269, Ley de Fi Signatures and Digital Certificates, its Regulations and amendments.
The integrity of the document and la autoría de la( s) fi rma( s) can be verified at https://apps. fi rmaperu.gob.pe/web/validador.xhtml

Documento electrónico fi digitally signed within the framework of Law No. 27269, Ley de Fi Signatures and Digital Certificates, its Regulations and amendments.
The integrity of the document and la autoría de la( s) fi rma( s) can be verified at https://apps. fi rmaperu.gob.pe/web/validador.xhtml

Resolves:

Article 1°.- To order the exclusion of the securities called «Octava Emisión de Bonos COFIDE» of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» from the Registro Público del Mercado de Valores.

Article 2°.- To order the ex officio exclusion of the securities called «Décima Emisión de Bonos COFIDE» and «Décimo Tercera Emisión de Bonos COFIDE» of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» from the Registro Público del Mercado de Valores.

Article 3°.- To rule in favor of the exclusion of the securities indicated in the preceding article from the Registro de Valores of the Bolsa de Valores de Lima.

Article 4°.- To order the ex officio exclusion of the «Segundo Programa de Instrumentos representativos de Deuda de COFIDE» from the Registro Público del Mercado de Valores.

Article 5.- Publish this resolution on the SMV Institutional Website on the Single Digital Platform of the Peruvian State for Citizen Guidance (www.gob.pe/smv).

Article 6.- Transcribe this resolution to Corporación Financiera de Desarrollo S.A. – COFIDE, as issuer; to Banco De Crédito del Perú, as Representative of the Bondholders; to the Bolsa de Valores de Lima S.A.; and to CAVALI S.A. I.C.L.V.

Register, communicate and publish.

Alix Godos
Intendente General
General Superintendency of Conduct Supervision