Julia Bell is an associate in the Energy, Infrastructure, Project Finance and Asset Finance group. Julia's practice focuses on international and domestic corporate and financing transactions, with an emphasis on project and asset-based financing and related capital market transactions. She has represented sponsors and financial institutions (including development banks and export credit agencies, commercial banks and private equity funds) in the aviation, oil and gas, power, and renewable energy sectors.
Julia has worked in the New York and Mexico City offices of White & Case. Julia has also been active in a variety of pro bono matters involving international development and microfinance, and she completed a secondment with Acumen, a non-profit global venture fund.
Goldman Sachs, IDB, IFC and SERV – CELSE / Brazilian LNG Regasification Project
Representation of Goldman Sachs & Co. LLC, Inter-American Investment Corp., International Finance Corp. and Swiss Export Risk Insurance on the structuring of the financing for the design, construction, and operation of Centrais Elétricas de Sergipe S.A. (CELSE), the project company's 1,516 MW thermoelectric power plant and related LNG receiving and gas transportation infrastructure in Brazil. At approximately BRL 5 billion (US$1.8 billion), this is the largest LNG-to-power financing in Latin America to date. In connection with the financing, Goldman served as global coordinator, sole book-running manager and sole initial purchaser in the offering by a Luxembourg special purpose vehicle of BRL 3,201,500 9.850% senior secured notes due 2032, and as sole syndication agent, sole lead arranger, sole lead bookrunner and lender of a loan in the aggregate principal amount of BRL 168.5 million to the SPV. The Luxembourg SPV used the proceeds from the notes and the loan to purchase BRL 3.37 billion aggregate principal amount of zero withholding tax Brazilian debentures issued by CELSE, which also received committed loans from Inter-American Investment Corp. and International Finance Corp. In another first, Swiss Export Risk Insurance insured 95 percent of the payment obligations by CELSE under the Brazilian Debentures.
Chilean and International Banks – Chilean Power Grid Unification
Representation of Banco de Chile, Banco del Estado de Chile, Banco de Crédito e Inversiones, Banco Santander-Chile, Instituto de Crédito Oficial, KfW IPEX-Bank GmbH, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as senior lenders, and The Prudential Insurance Company of America, as fixed rate note purchaser, in the long-term project financing for Transmisora Eléctrica del Norte S.A.'s development of a 600 km electricity transmission line and related substations connecting the Sistema Interconectado Central (SIC) and the Sistema Interconectado del Norte Grande (SING) of Chile, which will unify most of the country's power grid. The US$822 million financing consisted of Dollar and Chilean Peso senior loan facilities and a private placement under New York law, and a value added tax facility under Chilean law.
Representation of SunPower Asset Co, LLC in connection with the development, construction and financing of El Pelícano project, an approximately 100 MW solar photovoltaic project to be located in the Atacama Region III, Chile.
Saudi Refining, Inc. – Discontinuation and Asset Division
Representation of Saudi Refining, Inc. (SRI), a wholly owned subsidiary of Saudi Arabian Oil Company (Saudi Aramco), in the discontinuation of Motiva Enterprises LLC and the division of Motiva's assets, liabilities and businesses between SRI and affiliates of its joint venture partner, Royal Dutch Shell PLC.
Freeport LNG – Train 1 and Train 2 Equity and Senior Secured Debt Financings
Representation of Freeport LNG with respect to over US$14 billion of third party cash equity, mezzanine debt, and senior secured debt financings for the first three liquefaction trains of the Freeport LNG multi-train natural gas liquefaction facility at Quintana Island in Texas. The individual liquefaction trains comprising the facility are separately owned and financed by wholly and partially-owned subsidiaries of Freeport LNG. The four transactions comprising the third party equity and senior secured debt financing of the first two liquefaction trains were the largest fully non-recourse project financing in history and were collectively named "2014 Global Deal of the Year" by IJGlobal, "2014 Americas Deal of the Year" by Project Finance International magazine, and one of the "2014 Americas Deals of the Year" by Trade Finance magazine. The mezzanine and senior secured debt financings of the third liquefaction train subsequently closed in April 2015.
Waypoint Leasing – Debt Financings and Asset Transfers
Representation of Waypoint Leasing Holdings Ltd., the largest independent global helicopter leasing company, in connection with (i) a private placement of Guaranteed Senior Secured Notes (Notes) valued at US$150 million for Series A and C, and €45 million for Series B, (ii) a $300 million term loan facility with BNP Paribas, as administrative agent, and BNP Paribas, MUFG Union Bank, N.A., RBC Capital Markets and Wells Fargo Bank Securities, as lead arrangers, (iii) a $100 million term loan facility with Lombard North Central PLC as Lender and Administrative Agent, and (iv) various asset transfers and amendments.