Seven White & Case Transactions Awarded Project Finance International 2011 "Deals of the Year"
White & Case advised on seven deals named "Deal of the Year" by Project Finance International. According to the magazine, the awards recognize deal innovation, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects.
"We are pleased to have been involved in these landmark transactions and recognized globally for our role on the winning deals," said Art Scavone, head of White & Case’s Global Project Finance Practice. "More than anything, these deals underscore our place as an elite project finance firm that is continually called upon by important clients to help execute their most important, complex, high-value transactions."
Awards were given for the following deals:
Europe Rail Deal of the Year 2011 – Tours Bordeaux: advised nine commercial banks, the European Investment Bank and the French State-owned Caisse des Dépôts et Consignations on the €8 billion project to connect Tours and Bordeaux through a high-speed rail link in France.
Europe PPP Deal of the Year 2011 – Eco-tax: advised the lenders on the financing of a €1.9 billion public-private partnership to build and operate an electronic truck tolling system for French roads.
Europe Petrochemical Deal of the Year 2011 – RusVinyl: advised RusVinyl on the €1.1 billion project to construct and operate a polyvinyl chloride plant in the Nizhny Novgorod region of Russia.
Middle East & Africa Oil & Gas Deal of the Year 2011 – Barzan: advised Qatar Petroleum and ExxonMobil on the US$10.3 billion Barzan Gas Project, the largest single financing project ever undertaken in the State of Qatar.
Middle East & Africa Turkish Deal of the Year 2011 – Gebze CCGT: advised the lenders on the project finance to develop a US$1 billion gas fired combined cycle plant in Gebze, Republic of Turkey.
Americas Oil & Gas Deal of the Year 2011 – OSX-2 FPSO Vessel Offshore Brazil: represented the lead arrangers in the US$1.1 billion financing of the OSX-2 FPSO (floating production storage and offloading) vessel.
Americas Transport Deal of the Year 2011 – Embraport in Brazil: Represented Caixa Econômica Federal as a senior lender in its provision of a US$335 million loan to Embraport Empresa Brasileira de Terminais Portuários SA for the construction and operation of a greenfield mixed-use port terminal to be located in the Port of Santos, Brazil. The total project cost is US$1.1 billion.
"These are all major deals, including the Barzan Gas Project, which is the world’s largest project financing to close in 2011 and one of the largest oil and gas project financings ever concluded," said Philip Stopford, head of White & Case's Energy, Infrastructure, Project and Asset Finance Practice in Western Europe, the Middle East and Africa. "The transactions demonstrate the strength of our practice across the region and our success in working with clients to close big-ticket deals in a challenging economy."