Evelyn Balassiano

Partner, New York



Evelyn Balassiano is a partner in the Energy, Infrastructure, Project and Asset Finance Practice in the New York office of White & Case. Evelyn represents sponsors and financiers in various types of corporate financing transactions and project development, acquisition and financing transactions. Her practice focuses primarily on the public private partnerships (PPP) sector in the U.S. and in Latin America and her experience includes projects in a wide array of infrastructure sectors, including airports, toll roads, rail and water.

Evelyn has significant experience advising multiple types of PPP and infrastructure market participants, including sponsors, infrastructure funds, commercial banks, institutional lenders, governmental agency lenders and contractors, as well as rare experience negotiating project and financing documentation alike. She also has experience on a broad range of financing transactions, including secured credit facilities, project bond offerings, TIFIA loans, private activity bonds and corporate loans.

Bars and Courts
New York
The University of Chicago Law School
Universidade do Estado do Rio de Janeiro


Select Experience:

Representation of Aegea Saneamento e Participações S.A. and Águas do Rio 1 and Águas do Rio 4 concessionaires (jointly Águas do Rio) on a R$1.5 billion (approximately US$300 million) financing provided by IDB Invest, including a R$500 million (approximately US$100 million) guarantee from Proparco for the benefit of IDB Invest, to strengthen water and sanitation services in the State of Rio de Janeiro in Brazil.

Representation of the senior lenders comprising, BNDES, CAF and the commercial banks with the nonrecourse senior secured financing for the US$3 billion São Paulo Metro Line 6 project in Brazil, the largest PPP project currently under construction in Latin America. The financing involves a 20-year limited recourse BNDES facility that is supported during the construction period by non-recourse bank guarantees totaling more than US$627 million. This transaction was awarded "Americas Transport Deal of the Year" by PFI 2022, "Latin America Transport Deal of the Year" by IJGlobal 2023 and "PPP deal of the Year" by Proximo 2023.

Representation of a group of 13 commercial bank lenders in connection with the US$3.4 billion non-recourse senior secured financing for the redevelopment of Terminals 6 and 7 at JFK International Airport. The financing deployed a novel multi-source debt financing structure, comprising a combination of taxable commercial bank loans alongside tax-exempt bonds. The project is a PPP between the Port Authority of New York and New Jersey and JFK Millennium Partners. Awarded North America Transport: Airport Deal of the Year by IJGlobal 2022.

Representation of Ridgewood Infrastructure and IDE Technologies, a world leader in water treatment solutions, in the development of a state-of-the-art membrane-based water treatment facility in the City of Fort Lauderdale, Florida.

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. The refinancing was recently awarded "Americas Water Deal of the Year" by IJ Global 2020.

Representation of DIF Capital Partners, a leading global investment fund manager with €9.0 billion in AUM, in their acquisition of Bernhard, LLC, the largest privately-owned energy-as-a-service (EaaS) provider in the U.S. Bernhard enters into long-term turnkey EaaS concession contracts predominantly with higher education and healthcare institution customers to upgrade, retrofit and service their large existing building energy facilities in order to achieve substantial energy savings.

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. The project was awarded "Airport Deal of the Year" by IJ Americas Awards 2019 and "North America PPP Deal of the Year" by Proximo 2019.

Representation of Corporación Quiport S.A., the concessionaire of the Quito International Airport, on the refinancing of its project financing in the international capital markets through a structured securitization of its debt. The refinancing was structured through the issuance of US$400 million aggregate principal amount of 12.000% senior secured notes due 2033 by a special-purpose vehicle, International Airport Finance, S.A. (the issuer), a financing entity newly incorporated in Spain, in a Rule 144A/Reg S bond offering. The proceeds from the notes were used to purchase the existing outstanding amount of Quiport's project financing and make additional disbursements to Quiport to be used, in part, for a dividend distribution.

Representation of the U.S. Department of Transportation as lender on an approximately US$120 million secured loan to the Oklahoma Turnpike Authority for the development and construction of the Gilcrease Expressway West project, an approximately five-mile, four-lane, all electronic-tolled highway on the west side of the City of Tulsa, Oklahoma, including 22 bridges. Total project costs are in excess of US$310 million. The collateral package included annual cash contributions from the Oklahoma Department of Transportation to improve the project's revenue profile.

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, which involved renegotiation of the comprehensive agreement with the Virginia DOT, 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 Resources Authority.*

*Matters prior to joining White & Case

Awards and Recognition

Project Finance Rising Star
Law360 Rising Stars 2023

Finance Rising Star
Women in Business Law Americas 2023