Global law firm Clifford Chance has advised Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) as New York counsel in connection with a US$116 million standby letters of credit facility granted to Fondo de Inversión Cerrado de Desarrollo de Infraestructuras Energéticas I (FICDIE I), Grupo Popular, S.A., Empresa Generadora de Electricidad Itabo, S.A. and Enerla Energía de las Américas, Inc.
The standby letters of credit issued under the facility will serve to backstop certain payment obligations of Manzanillo Gas & Power Holdco, Inc. under project documents related to the development of the 840MW Manzanillo combined-cycle power plant in the Dominican Republic.
The transaction supports the continued development of critical energy infrastructure in the region and highlights Bladex’s role in financing key projects across Latin America.
The deal team included Alberto Haito (Washington, DC), David Rondon (New York) and Genevieve McCarthy (Washington, DC).
