December 30, 2020
On December 10, 2020, Fondo de Inversión Cerrado Libre para el Desarrollo de Infraestructuras Dominicanas I (the “Fund”) managed by Administradora de Fondos de Inversión Universal, S.A. (“AFI Universal”) closed on a $37 million secured project financing facility to Emerald Solar Energy S.R.L. (“Emerald”). The proceeds of the loan will be used by Emerald mainly to (i) refinance certain existing debt and (ii) finance the operation of a 25.0 MW photovoltaic power plant located in Barahona in the Dominican Republic Project. CIFI Latam, S.A. acted as the Mandated Lead Arranger (“CIFI Latam”).
The U.S.-based firm of Hunton Andrews Kurth LLP was retained by CIFI Latam to advise the Fund as international counsel. Dominican legal advice to CIFI Latam and the Fund was provided by Headrick Rizik Álvarez & Fernandez while Bobadilla – Oficina de Abogados acted as special counsel to AFI Universal and the Fund. Emerald was represented by Akin Gump Strauss Hauer & Feld LLP as U.S. counsel and Guzmán Ariza on Dominican matters.
Hunton Andrews Kurth Lawyers
CIFI Latam, S.A. In-house Counsel
Headrick Rizik Álvarez & Fernandez Lawyers
Akin Gump Strauss Hauer & Feld Lawyers:
Guzmán Ariza Lawyers: