BIM SLB

active

BIM Land is part of the BIM Group, which was established in 1994, and is a leading tourism and property developer in Vietnam that focuses on identifying and developing new tourism destinations in the country. The proposed IFC investment consists of subscriptions to sustainability-linked bonds (“SLB”) of up to approximately US$150 million (in VND equivalent), of which US$50 million will be issued by Thanh Xuan Joint Stock Company and US$100 million will be issued by BIM Land Joint Stock Company (“BIM Land”). The proposed IFC investment is earmarked for (i) the development of Thanh Xuan valley project, which includes a hotel complex under the InterContinental brand, shophouses, and infrastructure of the project, and (ii) Intercontinental and Regent Hotel in Phu Quoc. BIM Land is an IFC client with one existing loan consisting of US$87.5 million committed in June 2019. Please refer to the environmental and social review summary for the project at https://disclosures.ifc.org/project-detail/ESRS/42059/bim-land-project. Ongoing supervision of the existing investment indicates BIM Land’s environmental and social performance is generally satisfactory.