La Jacinta Long-Term Bond

in implementation

The Borrower, a 50MW solar power project financed by the IDB with an A/B Loan for US$56 million and a C2F Loan for US$25 million is seeking to optimize it current financing through an IDB Invest A/B Bond. The B-Bond will be sold into the private placement market under section 4 (a) (2) of the 1933 U.S. Securities and Exchange Commission Act. This structure will allow the Project to achieve longer tenors than in the traditional bank market.The proceeds of the B-Bond will be used to repay the IDB A and B Loans in their entirety. As part of the financial plan the IDB Invest provide an A Loan for approximately US$3.6 million and purchase up to 5% of the B-Bond. The tenor of the A Loan and B Bond will be 24 years.La Jacinta is a 50MW (AC) / 64.8MW peak (DC) fixed tilt photovoltaic (“PV”) power plant and its associated facilities. La Jacinta is located in Salto, Department of Salto, Uruguay, and currently operates under a 30-year Power Purchase Agreement (“PPA”) with UTE, the state-owned utility of Uruguay.