Squire Patton Boggs Peña Prieto Gamundi, the Santo Domingo, Dominican Republic office of Squire Patton Boggs (US) LLP, acted as special Dominican counsel for Dominican Power Partners (DPP) in connection with the closing of a syndicated credit facility for an aggregate principal amount of up to US$260 million. DDP is the first investment in the Dominican Republic for AES Corporation, one of the largest private investors in the electrical sector in the Dominican Republic.
The credit facility would serve to finance DPP’s conversion of its two LNG-fired, 236 MW Westinghouse combustion turbines (Los Mina V and Los Mina VI), into combined cycle power generation units with a total net generation capacity of 350 MW.
The Squire Patton Boggs Peña Prieto Gamundi team was led by partners Alejandro Peña Prieto and Rhina Martínez, with assistance from senior associate Polibio Valenzuela. NY counsel for DPP was Shearman & Sterling LLP.
Citibank, N.A. acted as Administrative Agent of this facility, with Citigroup Global Markets Inc. acting as Lead Arranger and Global Bookrunner. NY counsel for the Administrative Agent and for the Lead Arranger was Skadden, Arps, Slate, Meagher & Flom LLP. Pellerano & Herrera acted as their special Dominican counsel.
Source: www.ssd.com
