Bern Hotels - SLB

proposed

Bern Hotels & Resorts (BHR), through Vareen Assets Corporation, seeks up to US$150 million in financing through its bond issuance program, registered with the Superintendence of the Securities Market of the Republic of Panama (SMV) and listed for public offering on the Latin American Stock Exchange (Latinex). The initial issuances expected under the program amount to US$70 million, to be placed through different bond series. IDB Invest will participate as an anchor investor, subscribing up to US$30 million in one of the series under the program, while other investors will subscribe the remaining amount of up to US$40 million through additional series.This financing represents the first Sustainability-Linked Bond (SLB) in Panama’s hotel industry and is expected to set a benchmark for sustainability. In addition to its role as anchor investor, IDB Invest will advise on the preparation of the Sustainability-Linked Bonds Framework (SLB Bonds Framework), strengthening the financing structure and aligning it with international sustainability standards. IDB Invest’s participation aims to send a positive signal to Panama’s capital markets, supporting the development of innovative financial instruments and promoting best practices in environmental, social, and governance matters.