Dolly Mirchandani

Partner, New York

Biography

“Dolly Mirchandani has considerable prowess assisting clients with their PPP project development and financing goals”… “Dolly is commercially minded, practical, knowledgeable and driven to move deals forward.”
Chambers Global & USA 2021

“Dolly is able to handle complex subjects and even when there are widely differing positions, she can get everyone on to the same page. Everyone is at ease when they know that Dolly is on the call; she addresses each and every concern brought forward with the same precision and determination.”
Chambers Global & USA 2021

“Sources say Dolly Mirchandani is "an absolute star in the field" and "extremely well respected.”
Chambers USA 2020

Overview

Dolly's practice focuses on infrastructure and public private partnership projects, reflecting over 20 years of experience working on some of the most significant deals in the sector. She represents sponsors, infrastructure funds, commercial banks, institutional lenders, contractors, secondary market investors and governments in the tender, development and acquisition of greenfield and brownfield infrastructure projects. Her breadth of practice allows her to anticipate concerns, propose solutions and promote agreement. She has played a leading role in the introduction of private investment and finance in the infrastructure sector in North America, having advised on multiple, award-winning transactions, including ones that were first-of-their-kind.

Dolly is, without a doubt, one of the most widely respected and successful practitioners in her field. She is ranked Band 1: PPP Projects by both Chambers USA and Chambers Global and was recently placed on the Roll Call of Elite for Project Finance in Euromoney's Best of the Best USA Expert Guide 2021, named among IFLR1000's 2021 Women Leaders for Project Finance and Project Development in the United States and awarded Global Leader status for both Project Finance and Government Contracts in Who's Who Legal 2021.

Bars and Courts
New York State Bar
Education
LLM
Harvard Law School
BA Jurisprudence
University of Oxford
New College
Languages
English

Experience

Representation of the lenders on a US$310 million senior secured term loan facility and US$33 million letter of credit facility provided to EWR Conrac, LLC in connection with the project financing of the Consolidated Rent-A-Car project at Newark International Airport. Underpinned by a lease agreement entered into by the borrower with the Port Authority of New York and New Jersey, the project comprises the development, construction and operation of a joint-use structured parking facility at Newark Liberty International Airport, a portion of which will be used as a public parking facility and a portion of which will be used as a consolidated rental car facility. Awarded "Best Financial Structure" by P3 Bulletin 2020, "Americas P3 Deal of the Year" by PFI 2019, "Airport Deal of the Year" by IJ Americas Awards 2019 and "North America PPP Deal of the Year" by Proximo 2019.

Representation of Morgan Stanley Infrastructure Inc., a leading global infrastructure investment platform, in its acquisition of Seven Seas Water Corporation, AquaVenture Holdings Inc. and AquaVenture Holdings Curacao N.V., a multinational developer, owner and operator of water production and wastewater treatment plants and businesses, from AI Aqua (Luxembourg) S.a.r.l, a company owned by Advent International Corporation.

Representation of JetBlue Airways Corporation in connection with the development of terminals at JFK International Airport in furtherance of Governor Cuomo's Vision Plan for JFK.

Representation of Ridgewood Private Equity Partners in connection with their acquisition of a majority equity interest in Vista Ridge LLC, the concessionaire for a 142-mile water pipeline in Texas, the offtaker of which is the San Antonio Water System. We have negotiated several amendments to the Water Purchase Agreement, navigated the Project through successful achievement of COD and advised on a $1.05 billion refinancing of the project 's construction financing at the end of 2020, implemented as a US private placement. "North America Water Deal of the Year" by IJGlobal 2017 and Project Finance International 2017, and "Water Deal of the Year" by Global Water Intelligence 2017 and "Best Utilities Project, Gold Award" P3 Bulletin 2017.

Representation of ACS Infrastructure Development, Inc., AECOM Capital and John Laing Investment Limited in connection with the construction and development of the Consolidated Rent-a-Car Facility to serve the LAX International Airport.

Representation of ACS Infrastructure Development, Balfour Beatty Investments, Bombardier Transportation, Fluor Corporation and Hochtief PPP Solutions in their successful bid for and financial close of the APM project of the LAX Landside Access Modernization Program. The financing consisted of a combined bank bond structure with US$1.2 billion of private activity bonds, which were rated investment grade by Fitch combined with a US$270 million, five-year construction facility provided by commercial banks. The project was awarded "Best Transit Project" by P3 Bulletin 2018, "Americas P3 Deal of the Year" by Project Finance International 2018 and "North American PPP Deal of the Year" by IJGlobal 2018.

Representation of Transurban in connection with the I-395 HOT Lanes project in Virginia, an expansion of Transurban's successful I-95 HOT Lanes project in Virginia, which involved renegotiation of the comprehensive agreement with the Virginia Department of Transportation, solicitation of consents from existing bondholders and the US DOT, issuance of additional parity private activity bonds and negotiation of Virginia Transportation Infrastructure Bank loan arrangements with the Virginia Resource Authority.*

Representation of Engie, Axium Infrastructure and Cofely in connection with their successful bid for OSU's Comprehensive Energy Management Project.*

Representation of Deutsche Bank in connection with the Green Corridor road project, the first P3 project in Aruba. This project was awarded "Caribbean Deal of the Year" by Latin Finance 2016.*

Representation of the institutional investors in the US$1billion tax-exempt (PABs) financing for the Carlsbad Desalination Project in Carlsbad, California. Sponsored by Poseidon Water and executed as a private placement, and was the first desalination project of its kind to close in California. This project was awarded "North American Water Deal of the Year" by Project Finance 2012.*

Representation of Regional Transportation District of Denver on the US$1.2 billion Eagle P3 Rail Project in Denver, Colorado. The project was awarded the American Road and Transportation Builders Association's "P3 Project of the Year", "North American Transportation Deal of the Year" by Project Finance 2010 and was hailed by Infrastructure Journal as 'landmark' and 'an example of how a project of this type can be completed successfully.'*

Representation of KKR and United Water in connection with their bid for the City of York, Pennsylvania water and wastewater management system.*

Representation of Lend Lease and McCarthy in connection with their bid for the University of California’s Merced campus redevelopment project.*

Representation of the Pennsylvania Department of Transportation (PennDOT) on its Rapid Bridge Replacement Project.*

*All matters prior to joining White & Case

Awards and Recognition

Roll Call of Elite: Project Finance
Euromoney Best of the Best USA Expert Guide 2021 

Band 1 - Projects: PPP - USA - Nationwide
Chambers USA 2021

Band 1 - Projects: PPP - USA
Chambers Global 2021

Leader in Project Finance and Project Development in the United States
IFLR1000 Women Leaders 2021

Leading Practitioner: Project Finance
Leading Practitioner: Women in Business Law
Euromoney Legal Media Group Expert Guides 2020

Global Leader: Project Finance
Who's Who Legal 2021

Global Leader: Government Contracts 
Who's Who Legal 2020