Award-Winning Deals Include Power, Renewables, Transportation and Petrochemical Projects Across Three Continents
Chadbourne & Parke LLP advised on six deals that will be honored as “Deal of the Year” in different categories at the annual PFI Awards hosted by Project Finance International. The awards will be presented at the 2015 PFI Awards Dinner, which takes place on February 3, 2016 in London.
Chadbourne advised on the following six deals that were selected for PFI Awards:
- Deal of the Year (Americas): Corpus Christi LNG – Represented the lenders in connection with the US$11.5 billion senior debt financing for the Corpus Christi LNG Project.
- Renewable Deal of the Year (Americas): Block Island – Advised the lenders on the US$290 million financing of the Block Island Wind Farm, the first utility-scale offshore wind farm in the United States.
- Power Deal of the Year (Americas): Salem Harbor – Represented the lenders on the financing of the 674 MW combined-cycle Salem Harbor Power Station in Salem, Massachusetts. This is the first project to be a complete tear down of an existing coal-fired plant in a non-regulated market.
- PPP Deal of the Year (Americas): Lima Metro Line 2 – Counsel to the underwriters in a US$1.15 billion senior secured note offering to finance a portion of the construction costs of the second line of the Lima and Callao metro project in Peru. This is the largest ever bond offering supported by Peruvian government payment rights.
- Petrochemical Deal of the Year (Middle East and Africa): Petro Rabigh 2 – Advised the Rabigh Arabian Water and Electricity Company and its sponsors in relation to the US$776 million financing of the expansion of its independent water steam and power plant located on the Red Sea coast of Saudi Arabia.
- Industrial Deal of the Year (Middle East and Africa): Jazan ASU - Represented the lenders in the US$1.7 billion financing of the Jazan Air Separation Facility in the Kingdom of Saudi Arabia. Once constructed, the facility will be the world’s largest industrial gas complex, with an estimated total project cost of US$2.15 billion. The financing is 100 percent Shari'ah-compliant and is one of the few major projects in the Middle East to be financed with only Shari'ah-compliant facilities.
The PFI Awards capped the end of a standout year for Chadbourne’s project finance practice. The firm once again ranked as the top global legal adviser for project finance transactions in the first three quarters of 2015, according to research prepared by IJ Global. The firm handled more than US$41 billion in transactions, which is nearly US$10 billion ahead of the second-ranked firm.
About Chadbourne & Parke
For more than a century, Chadbourne & Parke has counseled innovators around the world. We are a full-service law firm that leverages the extraordinary talent from our 11 international offices to offer the highest caliber client service in more than 80 countries on six continents. Today, we are recognized internationally for our groundbreaking work in emerging economies and our deep experience in energy and infrastructure, corporate and finance transactions, international disputes, and bankruptcy and financial restructuring.