Joan Martinez is an associate in the Asset Finance practice and the Project Development and Finance practice. Her practice involves a range of asset finance, project finance and other corporate transactions. Joan advises export credit agencies, financial institutions, leasing companies and airlines on the financing, leasing and sale and purchase of aircraft. She also advises lenders, borrowers and project sponsors on the development and financing of major energy and infrastructure projects. Joan has worked on secondment with the Firm's Tokyo office and with Carlyle Aviation Partners.
Her experience includes working on matters for:
- Grupo Aeroméxico S.A.B. de C.V. as special aviation counsel in connection with its U.S. Chapter 11 bankruptcy proceedings, including the restructuring of its leased aircraft fleet.
- Oaktree Capital Management in its commitment of up to US$750 million as the Tranche B DIP lender for LATAM Airlines Group S.A. in its U.S. Chapter 11 debtor-in-possession (DIP) financing. The DIP loan was secured by LATAM's equity interests, frequent flier program, material slots and routes, engines and spare parts and other first lien and second lien collateral.
- Seven Seas Water Corporation in the US$205 million refinancing of its credit facilities with respect to its water and wastewater treatment plants located in the Caribbean, Central America and South America.
- Representation of funds managed by Ares Management Corporation in the formation of Vmo Aircraft Leasing L.P., a newly formed company to acquire and lease commercial aircraft.
- The lenders, which include export credit agencies, a multilateral development finance institution and commercial banks, in connection with the US$20 billion project financing of a LNG facility in Mozambique. This is one of two major LNG projects under development in Mozambique and the first-of-its kind on the east coast of Africa.
- MUFG Bank Ltd. as facility agent and lender in connection with a Japanese operating lease with call option (JOLCO) financing for LATAM Airlines Group S.A. in respect of eight vintage Airbus aircraft.
- Société Générale, Tokyo Branch as facility agent and lender in connection with the JOLCO financings of two Boeing aircraft leased to a Chinese lessor and subleased to a Dutch airline.
- Calpine Corporation in the US$250 million refinancing of its credit facilities with respect to the Otay Mesa Energy Center, a nominal approximately 600 MW natural gas-fired power generation facility located in San Diego County, California.
- Banco Nacional de Desenvolimento Economico e Social (BNDES) as lender in connection with a US$700 million secured financing of 35 Embraer aircraft acquired by SkyWest Airlines, Inc.
- ACS Infrastructure Development, Balfour Beatty Investments, Bombardier Transportation, Fluor Corporation and Hochtief PPP Solutions in their bid for and financial close of the Automated People Mover project of the LAX Landside Access Modernization Program. The project involves six rail stations connecting new rental car, airport parking and Metro facilities to the airline terminals, as well as three stations in the Central Terminal Area. 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.
- Abu Dhabi Crude Oil Pipeline LLP, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC), on the inaugural issuance of US$3 billion senior secured bonds. The Rule 144A/Regulation S bonds were the first capital markets issuance by the ADNOC group and part of ADNOC's program to monetize its mid-stream assets. The bond issuance was also one of the largest non-sovereign bond issuances in history in the Middle East.
- Calpine Corporation in its US$17 billion sale to Energy Capital Partners, an energy-focused private equity firm, and a consortium of investors including Access Industries and Canadian Pension Plan Investment Board.
- ING Capital LLC as loan agent and lender in connection with the aircraft non-payment insurance (ANPI) financings of Boeing aircraft for a Korean airline and a Bermudan aircraft leasing company. The transactions were the first time commercial insurance was used as an alternative to a guarantee from the Export-Import Bank of the United States and the first cargo aircraft to be financed with ANPI Support.