Nicholas Macheras
Biography
Overview
Nicholas Macheras is a partner in the Project Development & Finance practice of White & Case in Paris.
Nicholas represents financial institutions in connection with project and export financings, particularly in the energy (renewable and conventional) and commodities sectors.
He has extensive experience working on cross-border financing transactions, with notable experience across Africa and various emerging markets.
Faculty of Arts
Experience
Acquisition of upstream interests in Angola
Representation of Somoil - Sociedade Petrolífera Angolana, S.A. (Somoil) on its acquisition financing of a 20% interest in Block 14 and a 10% interest in the adjacent Block 14K – from French supermajor TotalEnergies and Japan's Inpex and related financing from African Export-Import Bank and BAI - Banco Angolano de Investimentos.
Exploration and exploitation of hydrocarbons
Representation of Occidental Petroleum Corporation (OXY) in the context of the management of one of its major assets for the exploration and exploitation of hydrocarbons in Africa.
Infrastructure financing in Brazil
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.
Structured commodities and pre-export finance
Advising BNP Paribas (Suisse) S.A. in relation to an up to US$180 million syndicated secured borrowing base facility for a Dubai-based commodities trader.*
Advising a global Swiss commodity trader on a US$50,000,000 pre-export finance facility agreement in favour of a Zambian based copper mining company, with Zambian law security and a subordination arrangement with the existing shareholders of the borrower.*
Advising BNP Paribas in relation to a PXF facility agreement with a Luxembourg-based mining company in relation to its offtake / commercial contracts in respect of a Vietnamese based mine and its subsequent amendment and restatement.*
Borrowing base financings
Advising Société Générale, UBS, Natixis and SCB on the amendment and restatement of an up to US$410 million borrowing base facility granted to Addax Energy SA, secured by obligors located in Switzerland and Malta with third party guarantors in various African jurisdictions.*
Advising BNP Paribas (Suisse) S.A. and a group of eight international banks in relation to an amendment and restatement of a US$300 million syndicated partly committed secured borrowing base facility for a Geneva-based commodity trader, including updated security package.*
ECA-back financings
BNP Paribas Fortis in relation to four ECA-backed facility agreements to a sovereign state acting through its Ministry of Finance for the purchase of various types of buses and the subsequent amendments and restatements.*
*Matters prior to joining White & Case
