Astris Finance is pleased to announce the signing of the non‐recourse refinancing of Jamaica Private Power Company Limited - a 61MW, heavy fuel oil fired baseload generation facility in Kingston, Jamaica, majority-owned by AEI.
The financing consists of a 5-year USD term facility and, notably, a 5-year Jamaican dollar working capital revolver (sized in USD) with an annual paydown provision. RBC Merchant Bank (Caribbean) acted as Arranger with the participation of RBC Royal Bank (Jamaica) and RBC Royal Bank (Trinidad & Tobago).
Astris Finance acted as Financial Advisor to JPPC through the initial market sounding, structuring & modeling, marketing, negotiations, due diligence and documentation phases of the transaction.
The Astris Finance team was led by Senake Gajamera, Director, who stated: “We are pleased to have assisted JPPC and its strong sponsors, AEI and Inkia Energy achieve attractive terms and reach this important milestone in a benchmark IPP refinancing transaction for both Jamaica and the region.”