Pellerano & Herrera advises Bladex on US$116 million credit facility supporting Dominican Republic power project

Santo Domingo, Dominican Republic.- Pellerano & Herrera advised Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) as Dominican 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 country and highlights the role of regional financial institutions in financing strategic projects across Latin America. 

Pellerano & Herrera advised Bladex on the Dominican law aspects of the transaction, working alongside international counsel involved in the structuring and execution of the financing. 

The Pellerano & Herrera team was led by partner Jennifer Beauchamps and included attorneys María Fernanda Ordoñez and Marlene Herrera. 

This transaction further demonstrates Pellerano & Herrera’s experience advising international financial institutions on complex financing transactions, project finance matters and cross-border infrastructure projects in the Dominican Republic.