BLP advises on the largest placement of green bonds by a 100% renewable energy company in Central America and the Caribbean
The BLP Costa Rica team advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC on the issuance by Investment Energy Resources Limited of $700 million in Secured Notes with a Fixed Rate of 6.250% maturing in 2029. The firm also advised Banco Latinoamericano de Comercio Exterior, SA, Banco Industrial, SA, Westrust Bank (International) Limited, Banco Davivienda Salvadoreño, SA, Banco Davivienda (Costa Rica), SA, Banco Davivienda (Panamá), SA and Banco Davivienda, S.A. (Colombia) in a syndicated loan of up to $ 440 million to Investment Energy Resources Limited (a subsidiary of the CMI group) and its companies related to energy production issues in the Central American region.
In addition, the BLP Honduras team advised CMI through its subsidiaries in Honduras (Energía Eólica Honduras, SA, Participaciones Choluteca Dos, SA, Participaciones Choluteca Uno, SA, Soluciones Energéticas Renovables, SA de CV and Sistemas Fotovoltaicos de Honduras, SA) regarding the viability of collateral for both transactions. This operation involved the jurisdictions of Honduras, Costa Rica, Nicaragua, Panama, Colombia, El Salvador, Guatemala, Bermuda and the United States of America. The BLP team in Costa Rica was made up of partners Julio Castellanos, Luis Manuel Castro, and Vivian Liberman, accompanied by associate Adriana Acuña. The BLP Honduras team was led by Partners José Miguel Álvarez and Pablo Umaña along with associate Ivis Alvarado. Other firms involved in the transaction were Consortium Legal Honduras, Rothschild & Co, Clifford Chance, Simpson Thacher Bartlett, Consoritum Legal Costa Rica, Qil + 4 (Guatemala), Consortium Legal Guatemala, Arias Law (Nicaragua), Valdés Suárez & Velasco (El Salvador), Medina Garrigó (Dominican Republic), and Appleby Global (Bermuda).