Dentons advises CIBC FirstCaribbean International Bank on its US$88,000,000 multi-tranche project financing to BMR Energy Portfolio I Limited
Dentons advised CIBC FirstCaribbean International Bank on its US$88,000,000 multi-tranche project financing to BMR Energy Portfolio I Limited. The loan will be used for the refinancing of a portfolio of renewable energy assets (onshore wind and solar) in Jamaica, the Cayman Islands and the Republic of Guatemala.
The transaction is the third time Dentons has recently represented CIBC FirstCaribbean International Bank on a major project financing in the Caribbean, having advised on the refinancing and expansion of the Antigua cruise port in St John’s, Antigua and the refinancing and content optimization Photovoltaic solar power plant in Jamaica.
Dominic Spacie, consultant within Dentons’ UK Energy and Infrastructure Finance team who led the transaction, said: “This was a complicated multi-jurisdictional transaction involving Dentons’ offices across the region and c t is a testament to the team that financial close has been achieved. for the customer successfully. This was the second renewable energy sector financing on which we have advised CIBC FirstCaribbean, which has now deployed over US$150 million in renewable energy asset financing in the Caribbean, cementing its position as main commercial bank lending to the renewable energy sector in the region. .”
Alongside Dominic Spacie, the Dentons team was led by senior partner Tom Guilfoyle and included partner Thomas Collier and intern Daniel Mayhew in London, partner Carl Steen in the US and, underlining Dentons’ reach in the Caribbean and Central America, senior partner Neichelle Spence Lattibeaudiere at Dentons Delany in Jamaica, partner Stuart Bruce at Dentons Delany in the British Virgin Islands, senior legal counsel Brian Patterson at Dentons Delany in the Cayman Islands and senior partner Shervon Pierre at Dentons Delany in Saint Lucia.