White & Case advises Solek Holding SE on a series of transactions

Press Release
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Global law firm White & Case LLP has advised renewable energy developer Solek Holding SE and certain affiliates on a series of transactions across its capital structure, which will allow Solek to finance its ongoing expansion of its solar energy business in Latin America.

"We believe these series of transactions, which have to fit together in a coordinated fashion, bring out the best in White & Case," said White & Case partner Thomas Pate, who led the team. "This successful outcome shows how well positioned our Firm is to help clients tap into a multitude of sources of capital, and to leverage our leading Project Development and Finance, Capital Markets and Energy practices for a single client."

The transactions, which closed substantially contemporaneously with one another comprised: (i) senior secured, limited recourse project-level construction facilities to finance the construction of certain utility-scale and distributed energy solar projects; (ii) a delayed draw senior US private placement under Section 4(a)(2) and Regulation D of the Securities Act of 1933; (iii) a letter-of-credit facility; and (iv) a novel senior secured holdco financing. BNP Paribas and Natixis acted in a number of capacities, including as placement agents, arrangers and lenders.

A multijurisdictional White & Case team advised on all aspects of the transaction for the sponsor, including assisting in the finalization of certain key project agreements, and the structuring and closing of the various transactions.

The team was led by Project Development and Finance partner Thomas Pate (New York), Capital Markets partner Bibiana Jaimes (New York) and Tax partner Chad McCormick (Houston), and included Project Development and Finance associates Ana Arias (Miami), Adrian Leal (Houston), Chris Bergan, Mariana Montemayor, Aida Fernandez (all in Mexico City), Tom Robinson and Jared Metzker (both in New York); and Tax associate Devon Yamauchi (Houston).

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