The issuance will be the first to be arranged and traded on Bitfinex Securities El Salvador S.A. de C.V., which became the first regulated entity to receive a licence to operate under El Salvador’s Digital Asset Securities Law.
The construction project entails the development of a 4,484 square metres facility across five levels, with 80 rooms, five commercial spaces, and other hotel amenities including a swimming pool, restaurants, gym, gardens, and multipurpose rooms.
This tokenized debt will be issued by Inversiones Laguardia S.A. de C.V. (HILSV), which has been active in El Salvador since 2017. The issuance aims to raise USD 6.25M, and is offering a 10% coupon over a 5-year term. The minimum investment is USD 1,000, and uniquely the hotel operator is offering investment incentives of free hotel nights accommodation based on the size of investment made.
The token will be issued under the ticker HILSV, and will be traded against US dollars and Tether tokens. The HILSV tokens will be issued on the Liquid Network, a sidechain of Bitcoin, using Blockstream AMP.
“The HILSV token marks the first digital asset tokenisation from El Salvador and represents an important step forward in developing its nascent capital market as well as introducing a major new asset class into the market,” said Paolo Ardoino, CTO of Bitfinex Securities. “For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance.”
Jesse Knutson, Head of Operations at Bitfinex Securities, comments, “This capital raise not only marks our first venture in El Salvador but also stands as a testament to the transformative power of Bitcoin-based capital markets. We are proud to contribute to El Salvador’s growth and look forward to creating significant employment opportunities through this endeavour.”
“The recently implemented digital asset laws will grant us access to capital markets that were previously unavailable to us. This access will allow us to develop crucial tourism-related infrastructure, thereby unlocking the potential for growth in the tourism sector. This expansion will ultimately result in economic benefits for every Salvadoran citizen.” said Roberto Laguardia, president of Inversiones Laguardia
This initiative is anticipated to generate approximately 1,000 jobs during the construction phase and up to 5,000 direct and indirect jobs during its operational phase. The capital raise will commence on May 13, 2024, and is expected to span one month.
Please visit Bitfinex Securities for further details.
The HILSV issue follows the recent successful $5.2 million tokenised bond offering raised by Alternative, from Bitfinex Securities AIFC in Kazakhstan. Bitfinex is forecasting a significant pipeline of tokenised assets to come to the market in the first half of the year.
Customers seeking to access all Bitfinex Securities issuances must be verified with both its Kazakhstan and El Salvador entities. Customers who would like to set up an account on Bitfinex Securities El Salvador can do so here: [Bitfinex Securities Account Creation Link].
Bitfinex, since its inception in 2012, has been a leader in digital token trading, offering advanced trading features and financial tools for traders and liquidity providers globally. Bitfinex Securities Ltd. extends this legacy, providing a regulated, efficient global solution for capital raising through tokenized securities
Ditobanx is responsible for the tokenisation and structuring of the transaction and ensuring that it is issued on the Liquid blockchain
Hilton has not endorsed any offering and is only a franchisor and takes no responsibility for any representation regarding the operations of its franchisees.
For more information about Bitfinex and its commitment to financial freedom, please visit [ www.bitfinex.com/manifesto].
About Bitfinex Securities
Founded in 2021, Bitfinex Securities seeks to apply the technological benefits of the digital asset industry to global capital markets. Through the facilitation of real-time settlement, 24/7/365 trading, access to global liquidity, and the ability to self-custody assets, Bitfinex Securities allows for more efficient, cheaper, and easier interactions between investors and issuers.
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