The Honduras banks (Ficohsa, BAC Honduras, Ficensa) and foreign banks, (Rural Development Bank (Banrural) in Guatemala and Pichincha Bank of Panamá) involved in a syndicated loan to develop the tourism project Los Micos Beach & Golf Resort, made their first disbursement of $15.9 million.
The syndicated loan is for 24 million dollars and it will finance the second phase of the largest tourism project in Honduras.
Diana Villeda, financial manager of the Tela Bay Touristic Development (DTBT) company explained that the funds will be used for the construction of civil works, infrastructure, and equipment purchases for the luxury five star resort.
Funds disbursed energize the second stage of the bid tour, where the government and private enterprise have come together to realize the Micos Beach & Golf Resort in Tela Bay, Honduras in the Caribbean.
The first step was the development of a basic infrastructure such as roads, water and electricity in the surrounding area, for which it invested 20 million dollars.
“With this payment we give life to the construction phase of the five-star boutique hotel with 60 luxury accommodations with a unique design that combines the natural environment of Tela Bay with the convenience and comfort of a five star resort: spa, play area for children and adolescents, and all the comforts of a world class destination,” Villeda said.
Similarly disbursed resources were used to develop the golf course with 18 holes designed by Gary Player, infrastructure, fillers, construction of ponds, and landscaping of the main entrance.
The banks involved in this financial transaction are the Rural Development Bank (Banrural) in Guatemala with $ 5 million, Banco Pichincha of Panama with U.S. $ 5 million, BAC | Honduras and Ficensa of Honduras with U.S. $ 2 million, respectively, and Banco Ficohsa will bring U.S. $ 10 million. Lafise was apppointed as a trust bank and the guarantor of the investment.