Project and asset finance | White & Case LLP International Law Firm, Global Law Practice

Project and asset finance

We represented clients in major projects on six continents.

Petrochemicals
First major US project for a top Chinese chemical company
We represented a syndicate of lenders in the financing of the construction, operation and maintenance of a US$1.85 billion Louisiana methanol plant by China’s Yuhuang Chemical Inc.

Wind
Australia’s first offshore wind project
We advised Offshore Energy Pty Ltd. on its strategic partnership with Danish infrastructure fund Copenhagen Infrastructure Partners to develop the Star of the South, Australia’s first offshore wind project. When completed, it will be Australia’s largest renewable energy project.

Largest-ever onshore wind power project in Sweden
We advised HgCapital Renewable Power Partners and its Swedish wind farm investment vehicle Vasa Vind in connection with an investment by APG in the 288 MW Åskälen onshore wind power project, located in central Sweden.

Aircraft
First aircraft non-payment financing
We represented ING Capital LLC, as lender and loan agent, in the first-ever aircraft finance non-payment insurance financing, which was provided to Korean Air Lines and used to finance the acquisition of a Boeing 747-8I aircraft.

Railways/ports
Landmark US$2.73 billion project in Africa
We represented Vale S.A. and Mitsui & Co., Ltd. in the development and financing of the Nacala Corridor Railway and Port Project, an integrated
and transformative infrastructure project supporting growth along a regional corridor shared by Mozambique and Malawi.

Port expansion project in Brazil
We represented Overseas Private Investment Corporation in its US$350 million direct loan to Açu Petróleo S.A. to finance the development, construction and operation of infrastructure related to ship-to-ship oil transshipment operations at Terminal 1 of the Açu Port in Brazil.

Transportation
€1.571 billion project bond financing for Italian toll road
We represented J.P. Morgan as global coordinator on the project bond financing for construction of the Superstrada Pedemontana Veneta toll road comprising €1.221 billion senior notes and €350 million subordinated notes. This is the first unrated “greenfield” project bond ever, the first Italian project bond for greenfield infrastructure and the largest European project bond placed without EIB credit enhancement.

AUD 6.7 billion tunnel project
We advised Transurban on its unsolicited proposal to the Victorian Government to build the AUD 6.7 billion West Gate Tunnel Project in Melbourne, Australia.

Huge Australian tunnel and rail project
We advised on the successful contractual close of the AUD 6 billion (US$4.6 billion) Tunnels and Stations PPP package and the AUD 1.1 billion (US$850 million) Rail Systems Alliance package of the AUD 11 billion (US$8.5 billion) Melbourne Metro Tunnel Project, the largest public transport project ever delivered in Victoria.

Telecommunications
US$1.8 billion financing for Mexican 4G network
We advised Mexican construction consortium Altán Redes on its winning bid to build and operate a wholesale mobile network in Mexico.

Oil & gas
US$14 billion RAPID project
We represented Saudi Aramco on its proposed acquisition of a 50 percent interest in an estimated US$14 billion joint venture with Petronas to develop and finance Petronas’s Refinery and Petrochemical Integrated Development (RAPID) in the Malaysian state of Johor.

Landmark LNG project in Ghana
We advised the Ghana National Petroleum Corporation on a landmark liquefied natural gas (LNG) regasification project located in Ghana and a related gas supply agreement. It will be Sub-Saharan Africa’s first floating regasification facility and will position Ghana as a regional energy hub.

US$1 billion financing for Nigerian oil fields
We advised Nigerian National Petroleum Corporation (NNPC), The Shell Petroleum Development Company of Nigeria Limited and Total E&P Nigeria Limited, as sponsors, on a US$1 billion financing for development activities in 30 oil fields across 12 oil mining leases under the NNPC’s oil debt program.

Hospitals
US$1.83 billion Turkish hospital PPP
We advised JBIC, NEXI, lenders and hedging banks on the US$1.83 billion multi-tranche financing of the Ikitelli Hospital public-private partnership (PPP) in Istanbul, which will create one of the world’s largest hospitals, with 2,682 beds.

 

 

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