Andrews Kurth Represents CIFI in a $33 Million Secured Loan to Energys Honduras S.A., in Honduras

(Washington, DC)—On August 23, 2016, the Corporación Interamericana para el Financiamiento de Infraestructura S.A., a Panamanian financial institution (“CIFI”) and Banco Financiera Comercial Hondureña S.A., a sociedad anónima organized and existing under the laws of the Republic of Honduras (“Ficohsa”) completed the closing of two secured loans to Energys Honduras S.A. a sociedad anónima organized and existing under the laws of Honduras (the “Borrower”) for two separate solar projects. The first of the two loans in the amount of US$11 million closed on February 19, 2016, and the second loan in the amount of US$22 million closed on August 23, 2016. Structured as limited recourse project financings, the proceeds of the loans will finance capital expenditures in connection with the development, operation and maintenance of two photovoltaic power projects with an aggregate installed capacity of approximately 33 MWp located in El Carrizo, Choluteca, in the Republic of Honduras. The security included pledges of shares of the Borrower by the shareholders and a security interest in the projects’ assets (including equipment, land and bank accounts) effected through a Honduran trust agreement and assignments of insurance policies.

The U.S. based firm of Andrews Kurth LLP, advised CIFI and Ficohsa, as international counsel. Advice on matters of Honduran law was provided by Matamoros Batson-LatamLex in the Republic of Honduras.

Andrews Kurth Lawyers

Vera Rechsteiner, Partner

Ignacio Hirigoyen, Associate

CIFI’s In-house Counsel

Jose H. Salaverría, General Counsel

Juan Pedeflous, Project Attorney

FICOHSA’s In-house Counsel

Ernesto Alfonso Carrasco, General Counsel

Rina Maribel Reyes Araujo

Dora Rosario Zepeda

CIFI’s Honduran Counsel

Matamoros Batson-LatamLex

Dennis Matamoros Batson, Partner

Manuela Bueso, Partner 

Borrower’s New York Counsel

Crowell & Moring, LLP

Elliot Hinds, Partner

Matthew Welling, Associate

Borrower’s Honduran Counsel

Juan Carlos Barrientos

As released by the former Andrews Kurth Kenyon LLP