Simpson Thacher Represents SIBA Energy in Long-Term Financing of Thermoelectric Plant in the Dominican Republic
06.04.24
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The Firm recently represented SIBA Energy Corporation ("SIBA Energy"), a consortium among Empresa Generadora de Electricidad Haina S.A. (EGE Haina), SGN Energia and Monte Rio Corporation, in connection with term loan facilities for an aggregate principal amount of up to US$ 228 million and DOP$ 4.1 billion. The facilities were arranged by CIFI Services, S.A. The proceeds of the loans will be used to develop, construct and operate a 258 MW combined-cycle gas fired power plant located in the Dominican Republic (the “Project”) and to refinance certain existing indebtedness of SIBA Energy.
The Firm had previously represented SIBA Energy in connection with certain bridge financing relating to the Project, including a DOP$ 4.1 billion senior loan made available by Fondo de Inversión Cerrado Libre para el Desarollo de Infraestructuras Dominicanas I and arranged by CIFI Latam.
The Simpson Thacher team included Juan M. Naveira, Amy Beller, Jomar Vargas and Larissa Gebrim (Banking and Credit); Jeanne Annarumma (Executive Compensation & Employee Benefits); and William Smolinski (Tax).