Harneys advises BMR Energy on US$88 million refinancing
Harneys acted as British Virgin Islands counsel to BMR Energy Ltd. in relation to its US$88 million credit facility with joint lenders CIBC FirstCaribbean International Bank, and National Commercial Bank Jamaica Limited. CIBC FirstCaribbean acted as lead arranger.
BMR Energy is a developer and owner of renewable energy assets in the Caribbean and Central America and is a business segment of Sir Richard Branson’s Virgin Investments. The transaction spanned multiple territories within the Caribbean and the loan proceeds refinanced the outstanding debts of wind and solar independent power producers in several countries in the Caribbean and Central America.
The Harneys team comprised Josh Mangeot, George Weston and Melissa Thomas. Josh commented: “We are delighted to have helped our long-standing client BMR Energy with this complex financing transaction, which showcases the BVI’s contribution as a leading jurisdiction for cross-border sustainable investment in the Caribbean renewables sector.”
Harneys’ Transactional lawyers have strong networks with industry players and service providers in key markets around the world and understand the business environment in which their clients operate. The Banking and Finance team has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt, and enforcement of security and derivatives. The Corporate team’s significant track record includes complex mega-deals, high value private equity transactions, landmark IPOs and the full spectrum of public and private M&A and joint ventures.