Investment Energy Resources Limited’s $440 Million Senior Secured Term Loan Facility

Simpson Thacher represented Banco Latinoamericano de Comercio Exterior, S.A., as administrative agent, and the lenders in the transaction.

Investment Energy Resources Limited (“IERL”) executed its new US$440 million senior secured term loan facility. Obligations under the term loan facility are guaranteed by the subsidiaries of IERL that guarantee the Notes, and benefit from the same collateral as the Notes.

The borrowings under the term loan facility were used to repay obligations under the existing project finance indebtedness of IERL and certain of its subsidiaries and to pay related fees and expenses. IERL intends to use an amount equivalent to the net proceeds from the borrowings under the term loan facility to finance and/or refinance new or existing projects, assets or activities that are “eligible green projects.”

IERL is the entity through which Corporación Multi Inversiones corporate group, one of the largest conglomerates in Central America and the Caribbean, owns the operating assets of its energy business. IERL and its subsidiaries own the largest and most diversified private renewable energy portfolio in Central America and the Caribbean in terms of installed capacity.

The Simpson Thacher team included Jaime Mercado (Picture), Kirsten L. Davis, Teresita Acedo and Luis Pereyra (Capital Markets and Banking and Credit); and Sophie Staples and Nicole Humphrey (Tax).

Involved fees earner: Teresita Acedo – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Nicole Humphrey – Simpson Thacher & Bartlett; Jaime Mercado – Simpson Thacher & Bartlett; Luis Miguel Pereyra – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Banco Latinoamericano de Comercio Exterior S.A.;

Author: Martina Bellini