We are pleased to announce that Quijano & Associates acted as the Panamanian legal counsel to CLERHP Estructuras, S.A. in connection with the legal structuring, registration and listing of the Larimar Trust’s Revolving Corporate Bond Program for up to US$75,000,000.

CLERHP Estructuras, S.A., a Spanish group listed on BME Growth and the developer of Larimar City & Resort in the Dominican Republic, established the Larimar Trust, the vehicle through which the Program was registered in the Panamanian securities market.

The transaction represents a significant milestone for Panama’s capital markets, introducing a program linked to an international group listed on BME Growth through a structure registered and listed in Panama.

The Program was authorized by the Superintendency of the Securities Market of Panama and listed on Latinex – Latin American Stock Exchange. The Program’s Secured Series received an A-.pa rating from Moody’s Local Panama.

Mercantil Servicios Financieros Internacional acted as structurer of the transaction, while Mercantil Servicios de Inversión serves as broker-dealer and paying agent for the Program.

This transaction reflects the Panamanian securities market’s capacity to structure and facilitate financing for international groups and cross-border projects.

Quijano & Associates’ legal team was led by our senior associate, Luis Miguel Rojer A., and our Partner, Oliver Muñoz.

We thank CLERHP Estructuras, S.A. and Mercantil for the trust placed in our team and congratulate all parties involved on the successful completion of this transaction.