Norton Rose Fulbright named the global leader in project finance by IJ Global
Global | Recognition | March 28, 2018
- Firm wins ‘Global Law Firm of the Year’ and ‘Europe and Africa Law Firm of the Year’
- Advised on 15 ‘Deal of the Year’ Awards
Global law firm Norton Rose Fulbright has been awarded Global Law Firm of the Year by IJ Global, a leading industry publication for the energy and infrastructure market. The firm also received 15 ‘Deal of the Year’ Awards at regional ceremonies held in London, New York, Singapore and Dubai this month.
The IJ Global Awards celebrate excellence and recognise the best energy, infrastructure and mining deals and firms from around the world over the past year.
In further recognition of the firm’s regional prominence it was recognised as Europe and Africa Law Firm of the Year.
These awards follow the firm’s recently received “Law Firm of the Year” accolade, awarded by Project Finance International.
Nick Merritt, global head of infrastructure, mining and commodities comments:
“These awards are recognition of our clients’ hard work and success, and we are delighted to have worked alongside them on the award winning deals. With the expansion of our business in Canada, the US and Australia last year, we have grown our project finance offering, and winning Global Law Firm of the Year from two pre-eminent industry publications is cross industry recognition of what we have done in the sphere of legal services for global project finance. Of course, the work doesn’t stop there and we continue to strive to be at the forefront of the market with our clients.”
Deal awards received:
Asia Pacific (awarded on March 21)
- Asia Pacific Solar Deal of the Year – Bungala PV Solar Plant Phase 1 (110MW)
Advised an international consortium comprised of Enel Green Power (EGP), the renewable energy subsidiary of leading Italian power company Enel, and leading global infrastructure investor Dutch Infrastructure Fund on the purchase of the 275 MW Bungala Solar PV project from local developer Reach Solar Energy. The project is currently the largest ready-to-build solar PV project in Australia. Lead partners: Simon Currie and Raymond Lou.
- Asia Pacific Mining & Metals Deal of the Year – Pilgangoora Lithium Mine
Advised leading US and Swiss based investment management groups, Castlelake, Pala Investments Limited and CarVal Investors LLC, in relation to Altura Mining Limited’s entrance into a Loan Note Subscription Agreement with the investment management groups to raise an US$110 million Senior Secured Debt Facility. Lead partner: Jake Howard.
- Asia Pacific Telecoms Deal of the Year – AirTrunk Data Centres
Advised data centre developer and operator AirTrunk on its $400 million capital raising consisting of an equity investment and mezzanine financing provided by special situations funds from Goldman Sachs and TSSP together with a senior debt project finance facility from ING and Natixis. Lead partner: Shane Bilardi.
- Asia Pacific Downstream Oil & Gas Deal of the Year – Pengarang Oil Storage Facility
Advised a consortium of nine lenders on a US$1.25bn financing for the development of a 1.65 million cubic metre oil storage terminal to support a large integrated refinery complex in Johor, Malaysia sponsored by PETRONAS, Vopak and Dialog. Lead partner: Stephen Begley.
Europe and Africa (awarded on March 7)
- European Airport Deal of the Year - 14 Greek Airports
Advised the Hellenic Republic Asset Development Fund on the privatisation of 14 regional airports by way of concession. The firm’s role involved helping scope airport policy, advising on best international practice, preparing reports on a range of airport issues, submissions to the European Commission, drafting expressions of interest, request for proposals and tender rules, as well as drafting the concessions and related commercial contracts. Lead partner: Chris Brown.
- European Upstream Oil & Gas Deal of the Year – Vitol Sankofa OCTP
Advising Eni on the OCTP oil and gas development including advising on the Petroleum Agreement, agreements with the Government and gas sales arrangements. Lead partner: Nick Prowse.
- Africa Water Deal of the Year – Kigali Water PPP
Advised Kigali Water Limited on the project development and financing of the Kigali bulk water treatment plant PPP. This is the first project financed bulk water project in sub-Saharan Africa. Lead partner: Madhavi Gosavi.
- Africa Mining & Metals Deal of the Year – Nokeng
Advised Nedbank Limited (acting through its Corporate and Investment Banking division), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V (FMO) and Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) (the Lenders) in relation to the project financing of the development, construction, operation and maintenance of a greenfield fluorspar mine located in Gauteng, South Africa. Lead partner: Jackie Midlane.
- Africa Renewables Deal of the Year - Bangweulu Solar PV
Advised the International Finance Corporation and the Overseas Private Investment Corporation on the financing of the Bangweulu 47.5 MW solar PV plant. This is the first project to be financed under the World Bank Group’s Scaling Solar initiative and it also has the benefit of coverage from an IDA-backed partial risk guarantee. Lead partner: Jeremy Hushon.
Middle East and North Africa (awarded on March 27)
- MENA Infrastructure Programme Deal of the Year – Egypt FIT II Programme
Advised a consortium of lenders, led by International Finance Corporation (and also including African Development Bank, Asian Infrastructure Investment Bank, CDC, OeEB and Finnfund) on the US$ 653 million financing of a programme of 13 solar power projects in Egypt with an aggregate capacity of 752MW. The projects will form part of the Benban Solar Park, which, once complete, will be the largest solar installation in the world. This is the largest private sector financing package for a solar photovoltaic facility in the Middle East and North African region. Lead partner: Andrew Hart.
- MENA Solar Deal of the Year – Sweihan
Advised Marubeni Corporation and JinkoSolar Holding Co., Ltd in relation to the US$ 900 million financing for the Sweihan IPP (independent power project) in Abu Dhabi. Lead partners: Charles Whitney, Chris Down, Peter Hall.
Americas (awarded on March 15)
- North America Transmission Deal of the Year - Fort McMurray West Transmission
Advised the Alberta Electric System Operator on the development and implementation of P3 contracts relating to the design, build, ownership, operation and maintenance of a 500 kV, 500 km, C$1.65bn transmission line, and on matters relating to a debt funding competition for project debt of approximately C$1.4bn. Lead partners: David Eeles, Rick Borden, Jennifer Kennedy.
- North America Wind Deal of the Year - TransAlta Renewables Inc.
Advised TransAlta Renewables in connection with a C$260 million bond offering, by way of a private placement, for its indirect majority-held subsidiary, Kent Hills Wind LP, which is secured by, among other things, a first ranking charge over all of Kent Hills Wind LP’s assets, including wind generating facilities located near Moncton, New Brunswick. Lead partner: Nicole Sigouin.
- Latin America Mining & Metals Deal of the Year - Fruta Del Norte
Advised Lundin Gold on all aspects of its project finance package of $400 to $450 million with the Orion Mine Finance Group and Blackstone Tactical Opportunities. The purpose of the financing is to fund a portion of the development and operational costs of the company's Fruta del Norte project, and is the first large scale mining project financing in Ecuador. Lead partners: Geoff Gilbert and Alison Babbitt.
- Latin America Solar Deal of the Year - Cubico Alten, Mexico
Advised the IIC, IFC, The Bank of Tokyo Mitsubishi UFJ, Banobras and Bancomext as senior lenders in the US$235 million financing of the 150 MW Solem I and 140 MW Solem II solar PV projects, located in Aguascalientes, Mexico. Norton Rose Fulbright also represented Bank of Tokyo Mitsubishi UFJ (México) as VAT facility lender. The project will consist of two solar plants, named Solem I and Solem II respectively, two electrical substations, and a 6.6 km 230 kV power transmission line connecting both substations to the Mexican utility Comisión Federal de Electricidad (CFE). Lead partner: Raquel Bierzwinsky.
Norton Rose Fulbright’s global project finance team has recently been ranked number 1 by IJGlobal and Infra News for the number of deals closed in 2017. Law360 has also named Norton Rose Fulbright’s projects team one of its “Practice Groups of the Year” for the fourth consecutive year.
For further information please contact:
Kate Farrell, Public Relations Executive
Tel: +44 (0) 20 7444 3724; Mob: +44 (0) 7515 324 290
Meeta Campanaro, Senior Public Relations Manager
Tel: +44 (0)20 7444 3097; Mob: +44 (0)7595886276
Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.
Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.
Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.
Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.