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News Article

Womble Carlyle’s Jackie Camp, Shandra Stout Negotiate OPIC Investment in Pakistan

September 28, 2011

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Signing Ceremony Includes Pakistani Finance Minister and OPIC President and CEO
 
WASHINGTON, D.C.—Womble Carlyle attorneys Jackie Camp and Shandra Stout have completed work on the financing by OPIC of a modern commercial office building in Karachi, Pakistan, which is expected to bring much-needed capital investment and jobs to that nation.
 
To commemorate the completion of the deal, Camp and Stout attended a signing ceremony between the Overseas Private Investment Corporation (OPIC) and Pakistan’s TPL Properties. Dr. Abdul Hafeez Sheikh, Finance Minister of Pakistan, attended the ceremony, which took place Monday, September 26th at the St Regis Hotel in Washington, D.C.

  • OPIC is providing a $20 million loan for the project. Through Jackie Camp’s leadership, Womble Carlyle has become a go-to law firm for OPIC. The firm has helped finance projects including: The new U.S. Embassy in Belize;
  • Affordable housing projects in Iraq, Central and South America;
  • Mortgage financing in Africa, East Asia and Mexico
  • A rice mill in Indonesia
  • Construction equipment financing in Iraq
  • A hydroelectric power plant in Sri Lanka; and 
  • A luxury hotel in Liberia.
These projects bring badly-needed jobs, investment and services to poor nations.
 
The Centrepoint project will be only the second high end office development in the Pakistani capital of Karachi, a city of 18 million people, and the tallest building in Pakistan once completed in 2012. The project is the first direct OPIC investment in Pakistan and illustrates the U.S. government’s commitment to developing infrastructure and job creation in Pakistan. The building will include several energy-efficient “green building” features that will set a new standard for environmentally-conscious construction in Pakistan, as well as world-class IT and security systems.
 
Jackie Camp has a diverse international finance practice, completing numerous transactions on behalf of OPIC. She also has significant experience representing agent banks in syndicated or single-bank financings, representing borrowers in debt financings of all sizes, and representing lenders and borrowers/acquirers/issuers in acquisition financings, mezzanine financings and venture capital financings. Jackie practices in Womble Carlyle’s Greensboro, N.C., office.
 
Shandra Stout represents companies in all aspects of the business life cycle, from formation, day-to-day operations and corporate governance to fundamental transactions such as capital raises, mergers and acquisitions, and sales of stock or assets. She practices in Womble Carlyle’s Winston-Salem, N.C., office.
 
 
See artist's rendering of Centrepoint building
 

This document is intended as an informational reminder and does not constitute legal advice. If you have any questions or would like to discuss a particular situation, please contact Womble Carlyle Sandridge & Rice, LLP. The purpose of this article is to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances.