Infrastructure, Transportation & Logistics

Americas

San Antonio Vista Ridge Water P3 Refinancing
Representation of Ridgewood Private Equity Partners in connection with their acquisition of a majority equity interest in Vista Ridge LLC, the concessionaire for a 142-mile water pipeline in Texas, the offtaker of which is the San Antonio Water System. We have negotiated several amendments to the Water Purchase Agreement, navigated the Project through successful achievement of COD and advised on a $1.05 billion refinancing of the Project 's construction financing at the end of 2020, implemented as a US private placement. The refinancing was recently awarded "Americas Water Deal of the Year" by IJGlobal 2020. The original project was awarded "North America Water Deal of the Year" by IJGlobal 2017 and PFI 2017, and "Water Deal of the Year" by Global Water Intelligence 2017 and "Best Utilities Project, Gold Award" P3 Bulletin 2017.

Los Angeles International Airport Automated People Mover
Representation of ACS Infrastructure Development, Balfour Beatty Investments, Bombardier Transportation, Fluor Corporation and Hochtief PPP Solutions in their successful bid for and financial close of the APM project of the LAX Landside Access Modernization Program. The financing consisted of a combined bank bond structure with US$1.2 billion of private activity bonds, which were rated investment grade by Fitch combined with a US$270 million, five-year construction facility provided by commercial banks. Awarded "Best Transit Project" by P3 Bulletin 2018, "Americas P3 Deal of the Year" by PFI 2018 and "North American PPP Deal of the Year" by IJGlobal 2018.

Rutas 2 and 7 Project
Representation of Sacyr Concesiones S.L. and Ocho A S.A., as sponsors, Rutas del Este S.A., as borrower, and Rutas 2 and 7 Finance Limited, as issuer, in the US$458 million zero coupon Rule 144A/Regulation S bond arranged by Goldman Sachs & Co. LLC, acting as sole global coordinator and a US$200 million working capital and long-term project finance facilities provided by the Inter- American Development Bank, in each case for the design, construction, operation and maintenance of the 2 and 7 Road Project in Paraguay. This was the largest private investment in the history of Paraguay to date and Paraguay's first public-private partnership (PPP). Awarded "Latin America PPP Deal of the Year" by Proximo and "Infrastructure Financing of the Year: Southern Cone (Argentina, Chile, Paraguay, Uruguay)" by LatinFinance Project & Infrastructure Finance Awards and "Project Finance Deal of the Year (Energy)" by Latin Lawyer.

Asia Pacific 

Footscray Hospital P3
Representation of the lenders to the Plenary Health consortium, comprising Plenary Group (financial sponsor, 70 percent equity investor and asset manager), Multiplex (construction contractor), Honeywell and Compass Group (facility services providers) and Sojitz Corporation (30 percent equity investor), on all aspects of the project financing of the AUD$1.5 billion new Footscray Hospital, the single largest health infrastructure investment in Victoria, Australia, to date. Awarded "Asia-Pacific PPP Deal of the Year" by PFI 2021.

Melbourne Metro Tunnel
Representation of the Melbourne Metro Rail Authority on the AU$11 billion Melbourne Metro Rail Project, the largest transport infrastructure project ever undertaken in Australia. Our team members advised, in conjunction with Herbert Smith Freehills, on all legal aspects of the project including drafting and advising on the legal early works contracts, PPP documentation, alliance and other procurement documents and processes, as well as on environmental and property issues. Awarded "Asia-Pacific Transport Deal of the Year" by IJGlobal 2017 and "Asia-Pacific Infrastructure Deal of the Year" by PFI 2017.

Europe

Data4 Centers
Representation of Deutsche Bank, Société Générale and SMBC as mandated lead arrangers and original lenders on the €620 million financing of the Data4 data center business. The Data4 group includes 19 data centers with a further six under construction in France, Italy, Luxembourg and Spain, and an intention to expand into Germany. Awarded "European Data Deal of the Year" by PFI 2021.

SNYRAIL
Representation of SYNERAIL on the refinancing of the Global System for Mobile Communication – Railways (GSM-R). Global concessions player and construction group VINCI Concessions, and the number two French telecommunications operator SFR, have refinanced the public-private partnership (PPP) GSM-R, which was entered into with SNCF Réseau and initially financed in 2010, via their joint subsidiary SYNERAIL. Awarded "Europe Refinancing Telecoms / Digital Infrastructure - Transport Communications Deal of the Year" by IJGlobal 2021.

Superstrada Pedemontana Toll Road
Representation of J.P. Morgan as global coordinator and liquidity management transaction provider, together with Banca IMI, Santander, Banca Akros and Kommunalkredit, in connection with a project bond financing for the construction of the Superstrada Pedemontana Veneta toll road. The transaction comprises the issuance of €1.221 billion variable rate senior secured amortizing notes and €350 million step-up subordinated secured notes and a related structured repo transaction. Aawarded "Europe Road Deal of the Year" by IJGlobal 2017, "Europe Transport Deal of the Year" by PFI 2017 and "Europe PPP Deal of the Year" by Infrastructure Investor Global Awards 2018.

MENA

Cairo Monorail P3
Representation of the National Authority for Tunnels (NAT), an entity affiliated to the Ministry of Transportation of Egypt, on the €1.886 billion financing for the development of the Cairo Monorail project in Egypt. The US$4.5 billion monorail project is the first of its kind in North Africa and Egypt and includes two lines: a 43 km-long rail line set to extend from 6th of October City to Giza, and a 54 km rail line connecting Cairo's New Administrative Capital to Nasr City. Awarded "MENA Transport Deal of the Year" by IJGlobal 2021.

Fujairah F3 Power Generation
Representation of Emirates Water and Electricity Company (EWEC) on the development of the US$1.14 billion Fujairah F3 power generation plant having a net capacity of 2,400 MW together with a grid station and associated facilities. The plant will be located in the Fujairah water and electricity complex, between the existing Fujairah F1 and Fujairah F2 water and electricity plants. When completed, the Fujairah F3 plant will be the largest gas turbine power plant in the UAE and will be able to power the equivalent of 380,000 households. Awarded "Middle East Power Deal of the Year" by PFI 2020 and "MENA Power Deal of the Year" by IJGlobal 2021

Nacala corridor project
Representation of Vale S.A. and Mitsui & Co., Ltd. in connection with the development and US$ 2.73 billion financing of the landmark Nacala Corridor Railway and Port Project, an integrated and transformative infrastructure project supporting growth along a regional corridor shared by two countries, Mozambique and Malawi. Awarded "Africa Transport Deal of the Year" by IJGlobal 2017 and "Middle East and Africa Logistics Deal of the Year" by PFI 2017.