Castillo y Castillo advises on the first financing granted to an investment fund of the Dominican Republic for the construction of a tourist complex
13 February 2019
Castillo y Castillo represented Banco Popular Dominicano in the granting and execution of a USD 50,000,000.00 loan to Pioneer Investment Funds, through its Pioneer Companies Development Fund, for the construction of the 5-star hotel complex “Club Med Miches“.
The financing for the hotel development through this innovative investment vehicle was chosen as “the most innovative transaction in support of the tourism industry” by the Association of Hotels and Tourism of the Dominican Republic (ASONAHORES); for which Banco Popular Dominicano was awarded during the celebration of the second edition of the “ASONAHORES Tourism Investment Forum”.
The involvement of Castillo y Castillo as advisors in this significant financing transaction solidifies the Firm’s leadership in legal advice in the banking sector as well as contributing to the growth of investment banking in the Dominican Republic.