Infrastructure projects, acquisitions, financings and privatizations demand an in depth sector understanding and knowledge combined with the skills to analyze and allocate complex and often cross-border risks. In addition, a comprehensive experience with the public sector regimes through concessions or regulated licensing regime is crucial. These qualities and knowledge set us apart and enable us to deliver results globally in both developed and emerging economies.
White & Case advises on some of the largest and most significant and complex infrastructure transactions in the world. Our practitioners advise sponsors, lenders, pension funds, insurance companies and sovereign wealth funds, infrastructure funds, commercial banks, corporations, developers and governmental entities involved in the development and acquisition of large-scale projects globally, including:
Energy & Power Infrastructure
Telecommunications and Satellites
We provide a highly effective one-stop-shop for infrastructure. In addition to our infrastructure development and finance teams on the development of greenfield assets, we also have market-leading M&A, construction and construction disputes practices, which assist in "through life" support on infrastructure transactions as well as the financing, purchasing, refinancing or restructuring of existing assets.
With our unique combination of skills and experience, we provide clients with integrated services and guide them through difficult issues on the most complex transactions and disputes, bringing our global experience, insight and judgement to each situation.
We have a market-leading global infrastructure finance team with US and English law capabilities as well as experience in the finance and securities law of many other jurisdictions.
Our teams advise and guide clients on the most complex and often first of a kind, innovative finance structures with complex integrated intercreditor bank/bond covenant packages involving numerous capital sources including export credit agency (ECA)-wrapped, monoline-wrapped and unwrapped private activity bonds, term B loans, and a wide variety of other structured products.
We have an outstanding worldwide reputation for delivering on innovative transactions in numerous jurisdictions, assisting clients to bring a number of 'firsts' to market with our commercial and pragmatic approach.
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AWARDS & RECOGNITION
Road Finance Law Firm of the Year 2014
Global Transport Finance Awards
Port Finance Law Firm of the Year 2014
Global Transport Finance Awards
Tier 1: Infrastructure
The Legal 500 – United Kingdom 2015
Band 1: Projects & Energy, Global-wide
Chambers Global 2014
Law Firm of the Year: Projects & Energy
Chambers Global Awards 2013
Project Finance Practice Group of the Year
Law360, 2014, 2013, 2012 and 2011
A7 motorway project, 2014
Representation of the joint lead managers, mandated lead arrangers, bond purchasers and lenders in connection with the €610 million financing for the construction, operation and maintenance of a 1,000 km segment of the A7 motorway. The financing is the first public-private partnership (PPP) project financed by project bonds with European Investment Bank (EIB) project bond credit enhancements and bank bridge financing in the German market. Moreover, it is the first combined bank/bond financing in Europe using the EIB project bond credit enhancement. This transaction was selected as "2014 European Project Bond Deal of the Year" by IJGlobal.
Matarani Port, 2014
Representation of Terminal Internacional del Sur S.A. as borrower and Santa Sofia Puertos S.A. as sponsor in connection with the US$280 million non-recourse project financing of the expansion of the Matarani Port in the Islay district of Arequipa, Peru, which is being provided by a group of top-tier international commercial banks. The expansion project is expected to more than double the port's handling capacity through the development, construction and operation of dedicated mining concentrate storage, handling and shipping facilities supported by ship-or-pay agreements with major mining companies in Peru. This transaction was selected as "2014 Latin American Transport Deal of the Year" by IJGlobal.
Adana Integrated Healthcare PPP, 2014
Representation of IFC, ERBD, DEG, Proparco, Korea Development Bank and a syndicate of commercial banks in the €550 million financing of an integrated healthcare campus public-private partnership (PPP) in Adana, Turkey. It is the first social infrastructure PPP project in Turkey to reach financial close.
Representation of Citigroup Global Markets Inc. and Jefferies LLC (as the underwriters) in connection with the public offering and sale of US$243.8 million in aggregate principal amount of Indiana Finance Authority Tax-Exempt Private Activity Bonds (I-69 Section 5 Project), Series 2014. The proceeds from the offering were loaned to I-69 Development Partners, a Delaware limited liability company controlled by Isolux Infrastructure Netherlands B.V. and Infra-PSP Canada Inc., to fund the I-69 Section 5 Project, which consists of the design, construction and financing (and, with respect to certain portions, the concurrent and subsequent operation and maintenance), of the upgrade of approximately 21 miles of existing State Road 37 - a four-lane median divided highway - between Bloomington, Indiana, and Martinsville, Indiana, to an interstate highway.
Alpha Trains, 2013
Representation of the infrastructure investors Arcus European Infrastructure Fund, Public Sector Pension Investment Board and AMP Capital Investors in the acquisition of 202 rolling stock assets from The Royal Bank of Scotland (RBS) in a combined asset and share sale transaction.
Nord Stream Pipeline, 2011
Representation of the joint venture project company Nord Stream AG and the sponsors in the approximately €9 billion construction and development of the Nord Stream Pipeline, two 1,220-km sub-sea offshore gas pipelines that extend from Russia to Germany through the Baltic Sea and the exclusive economic zones of Russia, Finland, Sweden, Denmark and Germany. This deal won five Deal of the Year awards across the globe including "2011 Europe Project Finance Deal of the Year" by International Financial Law Review. Due to our involvement, we were also selected as "2011 Infrastructure/Energy Team of the Year" by The Lawyer.
Eleclink interconnector project, ongoing
Representation of the project company with respect to a proposed 1,000 MW DC power interconnector project between the UK and France. The link will be 75 kms long and placed in the service tunnel of the Eurotunnel between the UK and France.
Nacala corridor project, ongoing
Representation of Vale S.A. in connection with the development and financing of the Nacala Project. The project includes the construction and financing of a new rail line to connect the Moatize mine in Tete to the existing railway line in Malawi, the rehabilitation of the existing line in the Malawi rail network, and in Mozambique between Nkaya and Monapo, the construction of a new branch line, connecting the existing railway line and the port, and the construction of a new coal port terminal in Nacala-à-Velha.
Axione Telecoms, 2014
Representation of the European Investment Bank (EIB) in the first “project bond” to be issued in France and the first in Europe to be issued for digital infrastructure. It is also the first project bond to be governed by French law and to be listed on the Paris Stock Exchange. The project bond refinances 11 French telecoms concessions that are owned by Axione Infrastructures, which will continue and extend its implementation of fast and super-fast digital infrastructure in sparsely populated areas. This matter was awarded European Telecoms Deal of the Year by IJ Global in January 2015.
Empresa de Transporte de Pasajeros Metro S.A. , 2014
Representation of Empresa de Transporte de Pasajeros Metro S.A. (Metro S.A.), the owner and sole operator of the subway system in Santiago, Chile, in connection with its inaugural offering in the international capital markets of US$500 million aggregate principal amount of its 4.750% notes due 2024, through a Rule 144A/Regulation S issuance. The proceeds of this offering will be used to finance the construction of two new subway lines, bringing the total number of subway lines in service to seven and increasing the number of passengers using the subway by approximately 120 million per year. Currently, Metro S.A. operates five subway lines with 108 stations and 103.5 kilometers of track, and transports an average of 2.3 million passengers per business day and 650 million passengers per year in the metropolitan region of Santiago. Metro is 100 percent owned by the government of Chile. The issuance of the notes, which are listed on the Luxembourg Stock Exchange, is the first 144A/Regulation S offering to date by Metro S.A. BBVA, and Deutsche Bank Securities Inc. acted as joint bookrunners for this offering.
Representation of NET4GAS, s.r.o., acting as the gas TSO in the Czech Republic, in connection with the construction of a 160 km gas pipeline (Gazelle) in the Czech Republic, a continuation of the Nord Stream and Opal Transmission lines. Among others, Vít primarily advised on the procurement process and the engineering, procurement and construction (EPC) contracts. Vít's involvement in the project was also instrumental in helping the client secure third party access (TPA) exemption to the pipeline in accordance with European Union law.
China municipal water distribution, 2012
Representation of the Asian Development Bank in connection with its loan to a subsidiary of a water project company to invest in multiple project companies for the rehabilitation, expansion and operation of water treatment and distribution facilities throughout China. This project was selected as the "2012 Infrastructure and Energy Deal of the Year" by China Business Law Journal and received the "Development Impact Honors" award from the US Department of the Treasury.
Madinah Airport, 2011
Representation of International Finance Corporation and the Kingdom of Saudi Arabia's General Authority of Civil Aviation in connection with the construction of a new terminal, the rehabilitation of associated facilities and the operation of the Prince Mohammed bin Abdulaziz Airport in Madinah in the Kingdom of Saudi Arabia under a long-term public-private partnership. This project led to our firm being named "2011 Airport Finance Law Firm of the Year" by Jane's Transport Finance magazine.