Our firm assisted lenders in syndicated secured debt financing of USD 210 million for the government owned water and electricity provider Aqualectra.
Aqualectra is the sole provider of water and electricity on Curaçao and plays an important role in the development of the island. Aqualectra promotes and invests in sustainable energy and has recently introduced the use of electric cars. This financing is important for the further development of this company.
The financing was arranged by Maduro & Curiel’s Bank N.V. and FirstCaribbean International Bank (Cayman) Limited, being two large systemic banks on Curaçao. Our team has actively assisted with the commercial negotiations between the lenders and the borrower’s group; we were also responsible for the drafting of all loan and collateral documentation and all other aspects of the transaction, including advising on complex security structures to protect the interests of the lenders.