White & Case Transactions Win Eight Project Finance Magazine, Two Trade Finance Magazine 2012 Deal of the Year Awards
White & Case advised on deals winning eight "2012 Deal of the Year" awards from Project Finance magazine and two "2012 Deal of the Year" awards from Trade Finance magazine.
"Gaining recognition for our work on these multifaceted projects, spread out over five continents, underscores White & Case's ability to provide clients with global representation on their most challenging and complex projects," said Art Scavone, Global Head of White & Case's Project Finance Group.
The following 2012 awards were given by Project Finance magazine:
"Overall Latin American Deal of the Year"; "Latin American Petrochemicals Deal of the Year"
Etileno XXI Petrochemicals Plant in Mexico: We advised Braskem Idesa SAPI in securing US$3.2 billion in financing for the Etileno XXI project, a US$4.5 billion integrated petrochemicals project located in Veracruz, Mexico, the largest deal to close in Mexico and Latin America in 2012, the largest private sector investment in a single project in the history of Mexico and the largest project financing ever in the Americas petrochemical industry. Seven government agencies and 10 commercial banks worldwide participated in the financing. Braskem Idesa SAPA is a joint venture formed by Braskem, the largest thermoplastic resin producer in the Americas, and Grupa Idesa, a leading Mexican petrochemical company.
"European Offshore Wind Deal of the Year"
Northwind Wind Farm in Belgium's North Sea: We advised the lenders on the €890 million financing of Northwind's 216 megawatt offshore wind farm in Belgium's North Sea. The financing for the 216 MW offshore wind farm will cover the design, construction, operation and maintenance of between 36 and 72 wind turbines.
"Middle Eastern Transport Deal of the Year"
Madinah Airport in Saudi Arabia: We advised International Finance Corporation and Saudi Arabia's General Authority of Civil Aviation as grantor on the US$1.2 billion financing for the expansion and renovation of Prince Mohammad Bin Adbulaziz International Airport located in the Holy City of Madinah—the first public-private partnership (PPP) for an airport in the Gulf region.
"African Transport Deal of the Year"
Henry Konan Bedie Toll Bridge in Ivory Coast: We represented a group of lenders on the US$326 million financing, design, construction and operation of a toll bridge in Abidjan, Ivory Coast, by a subsidiary of Bouygues (Socoprim) under a concession scheme.
"Latin American Project Bond Deal of the Year"
Oaxaca Dos and Oaxaca Cuatro Wind Firms in Mexico: We represented BBVA, BNP Paribas, Credit Agricole Securities, Banco Santander and Société Générale, as initial purchasers, in connection with the Rule 144A/Regulation S issuances by CE Oaxaca Dos, S. de R.L. de C.V. of US$148 million of senior secured notes and by CE Oaxaca Cuatro, S. de R.L. de C.V. of US$150 million of senior secured notes. Located near Oaxaca, Mexico, the Oaxaca Dos and Oaxaca Cuatro projects each generate 102 MWs of power. These were the first two project bond offerings for wind farm projects in Mexico.
"North American Merchant Power Deal of the Year"
Panda Temple Power and Panda Sherman Power Projects in the United States: We represented Morgan Stanley as joint lead arranger in the financing of the 758 MW natural gas-fired, combined-cycle Panda Temple power project being developed in Temple, Texas, and we represented Goldman Sachs Lending Partners LLC and Credit Suisse Securities (USA) LLC as mandated lead arrangers in the financing of the 758 MW natural gas-fired combined-cycle Panda Sherman power project being developed in Sherman, Texas. The two projects jointly won the award.
"Latin American Mining & Metals Deal of the Year"
Largo Resources Mining in Brazil: We represented Banco Itaú BBA, Banco Bradesco and Banco Votorantim in connection with a US$169 million loan facility provided to Largo Resources Ltd. for the financing of a vanadium production mine (Vanádio de Maracás) located in Brazil.
In addition, White & Case advised on two deals that won "2012 Deals of the Year" awards from Trade Finance magazine. The deals are:
Etileno XXI Petrochemicals Plant in Mexico
(See deal description above.)
Tufanbeyli Power Project in Turkey
We represented Enerjisa (a subsidiary of Sabanci Holdings and Verbund) in connection with the €1 billion development, construction and financing of the 450 MW Tufanbeyli Thermal Power Plant in Adana, Turkey, the biggest lignite power plant investment of the private sector in Turkey to date.
"These awards cover a wide range of sectors—from infrastructure to power to mining projects—in the Americas, Europe, Asia and Africa, demonstrating our ability to craft innovative and market-leading approaches for clients worldwide," said Philip Stopford, head of White & Case's Energy, Infrastructure, Project and Asset Finance Practice in Europe, the Middle East and Africa.