Hunton Andrews Kurth Represents CIFI Latam in Project Financing to KLED Capital Limited for Saint Lucia Lighting Project
March 30, 2023
In February 2023, CIFI Latam, S.A. (CIFI) closed on a $7 million guaranteed loan benefitting from risk insurance granted by the Multilateral Investment Guarantee Agency (MIGA) and on a second secured loan of $1.5 million to KLED Capital Limited (KLED), a company incorporated under the laws of the British Virgin Islands and registered in Saint Lucia as an external company. Both loans were structured with senior and subordinated tranches.
The proceeds of the first loan benefitting from the MIGA guarantee will be used by KLED to finance the installation, operation and service of Light-Emitting Diode (LED) streetlights in Saint Lucia through the replacement of existing old sodium lamps with LED lamps and installation of new LED streetlights. The proceeds of the second loan will be used by KLED to finance the installation, operation and service of Closed Circuit Television (CCTV) cameras in Saint Lucia.
The US-based firm of Hunton Andrews Kurth LLP advised CIFI as international counsel. Appleby (BVI) Limited acted as legal advisors to CIFI in the British Virgin Islands and Floissac, Duboulay & Thomas acted as legal advisors to CIFI in Saint Lucia. Fosters acted as legal advisors to KLED in Saint Lucia and Clark Hill PLC as KLED’s New York counsel.
Hunton Andrews Kurth LLP:
Vera Rechsteiner, Partner
Alejandro Silva, International Counsel (Special Legal Consultant - Admitted only in Colombia. Not admitted in the US)
CIFI In-house Counsel:
José Salaverria, General Counsel
Cira Ugas, Project Attorney
Appleby (BVI) Limited:
Shana Simmonds, Partner
Esmond Brown, Counsel
Clark Hill PLC:
Mary Rose Brusewitz, Member
Matthew Vigunas, Member
Floissac, Duboulay & Thomas:
Brenda Floissac Fleming, Partner
Fosters:
Peter Foster
Claire Greene-Malaykhan
MIGA:
Haruperi Mumbengegwi, Counsel