OPIC

Publication Date:	martes, marzo 11, 2008
News Title:	Consortium Centro America Abogados acted as legal counsel to Tecnoguat on loan with OPIC and Banco Industrial
News Details:
Consortium Centro America Abogados through its office in Guatemala , Consotium-Rodríguez, Archila, Castellanos, Solares & Aguilar, acted as legal counsel to Tecnoguat. The deal consisted on a two part transaction. First, the Tecnoguat outstanding loan with OPIC was paid and cancelled. This required a sophisticated structure involving all foreign and local terminations agreements, releases, waivers and a collateral agent. Closing was made in Washington DC involving officers and attorneys from OPIC, as previous lender, Tecnoguat as borrower, and Banco Industrial as the refinancing lender. After the OPIC loan was paid in full, the Banco Industrial refinancing loan came into effect. This refinancing involved a local Credit Agreement, an Administrative, Debt Service and Security Trust Agreement, and a Custody Trust Agreement, all governed by Guatemalan law. The power plant, certain real estate where the power plant is located, and receivables from the current PPA, among other assets; were established as collaterals. Additionally, it included a foreign trust for the purposes for holding certain amount of Tecnoguat shares given as security, which was governed by Bahamas laws. Local legal counsel for lenders: Tecnoguat – Alejandro Cofiño, Consortium-Rodríguez, Archila, Castellanos, Solares & Aguilar. OPIC – Alfredo Skinner, Arenales & Skinner Banco Industrial – Luis Pedro Fuxet Ciani, International General Counsel. Consortium Centro America Abogados Offices: Guatemala: Consortium-Rodriguez, Archila, Castellanos, Solares & Aguilar El Salvador: Consortium Centro America Abogados-office in El Salvador Honduras: Consortium-J. R. Paz y Asociados Nicaragua: Consortium-Taboada & Asociados Costa Rica : Consortium-Laclé & Gutiérrez

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