SANTO DOMINGO - CLERHP Estructuras announced the approval of a $15 million line of credit, intended to boost its construction project of more than 8,000 homes in the Larimar City & Resort project, in Punta Cana, Dominican Republic.
"This step reaffirms the market's confidence in CLERHP and in the transformative potential of Larimar City & Resort," said Juan Andrés Romero, president of the company.
The company reported that Mercantil Banco, SA, based in Panama, approved the promotion of the construction of phases 1 and 2 of housing in the Larimar City & Resort complex, which reinforces the financial system's confidence in the group's strength and its international management model, while this investment contributes to the financing of foreign investment in the Dominican Republic.
It also indicates that, in parallel, the company has initiated a $75 million bond program on the Panama Stock Exchange (Latinex), with Mercantil Servicios Financieros Internacional and Quijano & Asociados, which will allow it to diversify its sources of financing and optimize its capital structure.
"With this double operation, CLERHP completes the financing of the first phase of Larimar City & Resort and begins a new stage of growth supported by international capital markets," explains a press release.
It adds that the Spanish multinational group is a leader in engineering, construction and real estate development, operating in several Latin American countries and, since 2021, in the Dominican Republic.
