Subordinated Long-Term Debt Project Financing
InterEnergy Holdings (“IEH”) is a holding company that owns and operates power generation and distribution assets in Latin America and the Caribbean. Its predecessor, Basic Energy Ltd., led by power entrepreneur Rolando Gonzalez Bunster, had 25 years of investment and operational experience in the power sector having acquired and developed over 1,500MW in the Dominican Republic, Argentina, Panama and Jamaica.
Pan American Finance advised IEH on raising US$300 million in long-term financing for the construction of the Phase II and Phase III 215 MW Penonome wind power plant, the largest wind farm in Central America, consisting of US$284 million in senior secured term loans and US$16 million in subordinated debt. The consortium of co-lenders was led by the IFC and included development finance institutions and Panamanian banks.