JPS: Hurricane Melissa Recovery Program

proposed

The proposed transaction consists of a corporate loan of up to US$80 million to Jamaica Public Service Company Limited (“JPS” or the “Borrower”) to provide liquidity required by the company following the unplanned expenditure of more than US$300 million to pay for restoration works due to the impact of Hurricane Melissa, including works required to (i) repair, replace, expand and upgrade generation, transmission and distribution assets, (ii) install and/or repair the Borrower’s telecommunication infrastructure, (iii) upgrade to climate resilient infrastructure, and (iv) install or upgrade energy efficiency and energy storage solutions. The US$80 million loan will be composed of (i) an IDB Invest A Loan for up to US$50 million to (a) refinance debt service payments coming due in the next three years; (b) restore the Borrower’s disaster relief liquidity fund; (c) pay the cost of additional restoration works and capital expenditures expected during the period from 2026-2029, and (ii) an up to US$30 million Blended Finance Loan to (a) repair, replace, expand and upgrade generation, transmission and distribution assets, (b) install or repair the Borrower’s telecommunication infrastructure, (c) upgrade to climate resilient infrastructure, and (d) install or upgrade energy efficiency and energy storage solutions, among other works to be agreed upon between IDB Invest and the Borrower. The financing will have a tenor of up to three (3) years.