Caroline Miller Smith

Partner, London

Biography

“Caroline Miller Smith is a leading practitioner…..on transport and energy infrastructure issues and is well regarded by others in the market.”
Ranked Band 1 for Projects, Chambers UK 2018

Overview

Caroline is head of the EMEA Energy, Infrastructure, Project and Asset Finance Group and is based in the London office. She is recognised as a top-tier infrastructure, project development and project finance lawyer, with a track record in infrastructure, PPP, power and emerging markets transactions.

Caroline has long-standing experience leading deals involving roads, rail, port, transmission and distribution, renewable energy assets, social infrastructure and defence projects around the world. She is adept at navigating the different transactional challenges that each country brings, and the cross-border needs of her clients.

She undertakes both greenfield and brownfield transactions and complex financings. She advises investors, infrastructure funds, contractors, developers and senior creditors on project, finance and acquisition documentation, and has advised governments on a number of "first in country" transactions.

In a personal capacity, she is a board member of Infrastructure Exports: UK, a partnership between the Department for International Trade and the UK's leading infrastructure firms.

Bars and Courts
Law Society of England and Wales
Education
Law Society Finals
College of Law, London
BA
Merton College, University of Oxford
Languages
English
Spanish

Experience

Nacala Port and Rail Corridor
Advised Vale S.A. and Mitsui & Co., Ltd. on 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.

Eleclink Interconnector Project
Advised Eleclink, the project company incorporated by STAR Capital and Eurotunnel, in connection with the proposed 1000 MW DC power interconnector between the UK and France, which will run through the Eurotunnel.

D4 Highway and the R7 Expressway
Advised the Slovak Republic on the Public Private Partnership (PPP) project for the design, construction, finance, operation and maintenance of the €1.7 billion D4 Highway and the R7 Expressway, one of the largest road infrastructure development projects in the country.

Mersin Port
Advised IFM Investors on its acquisition of a 40 percent stake in Mersin International Port, a Turkish commercial port, from the Akfen Group.

A7 Project Bond Credit Enhancement
Advised the joint lead arrangers, lenders and institutional investors, on the first project bond with European Investment Bank (EIB) credit enhancement in Germany, for the financing of the extension and operation of the A7 federal highway between Hamburg and Bordesholm in the Federal State of Schleswig Holstein. The was the first PPP project financed by project bonds with EIB project bond credit enhancements and bank bridge financing in the German market.

A11 Project Bond Credit Enhancement
Advised the European Investment Bank (EIB) in respect of its project bond credit enhancement, as applied to the €580 million listed bond issue for the A11 motorway PPP between Bruges and Knokke in Belgium. This was the first "greenfield" project completed under the European Commission and EIB's Project Bond 2020, which aimed to revive and expand capital markets to finance large European infrastructure projects in the fields of transport, energy and information technology.

European Ports Operator
Advised Euroports, a European ports operator, on the refinancing of its assets in Finland, Belgium, Spain and Germany.

Landsvirkjun Interconnector Project
Advised Landsvirkjun in connection with a proposed landmark multi-billion dollar interconnector from Iceland to the UK.

Pathfinder Hospital PPP Projects
Advised the lenders in respect of the Kayseri Hospital PPP Project, and the Istanbul Ikitelli Integrated Health Campus PPP Project in Turkey.

First UK Offshore Wind Transmission Acquisition
Advised Transmission Capital and International Public Partnerships on the first UK offshore wind transmission acquisition at Robin Rigg, and the associated financing to complete the transaction.

Crossrail
Advised a bidding consortium on the Crossrail rolling stock procurement and financing.

 

Speaking Engagements

"Core Building: Moving with the Opportunity in Asset Selection", 21 March 2019, Infrastructure Investor Global Summit Week - Debt Forum, Berlin, Germany (panel chair)

"Case Study: Nacala Corridor Railway and Port Project, Mozambique & Malawi", 11th September 2018, 9th Annual World Energy & Infrastructure Summit, (panel chair)

"Combining PPPs with natural resources", 7th March 2018, Africa Energy and Infrastructure Investment Forum, London, UK, (panel chair)

"International financial institutions: Filling the infrastructure financing gap through cooperation and collaboration", 27th September 2016: World Infrastructure Summit, Madrid, Spain (panel chair)

"Global Market Spotlight: Europe", 29th September 2015: World Infrastructure Summit, Barcelona, Spain (panel chair)

"The Big Debt Debate: Infrastructure Debt The Evolving Outlook", 25th September 2014: World Infrastructure Summit, Barcelona, Spain (panel discussion)

"How are institutional shaping their role as infrastructure investors", 8th October 2014: European Infrastructure Finance Summit, Paris, France, (panel chair)

 

Awards and Recognition

Band 1 Lawyer, Chambers UK 2018

Projects: PFI/PPP

Selected for The Legal 500 Private Practice Powerlist: African Specialists 2019

Named in the IFLR1000 Women Leaders Guide 2019

Led the team awarded "Energy and Infrastructure Team of the Year" by the Lawyer 2018