Project and Infrastructure Finance
Commercial legal advice in all finance matters
Our finance practice covers the whole spectrum, from trade and asset finance, through to project finance. We are well known for our work in the shipping, offshore, yacht and corporate jet sectors, and frequently handle assets relating to the transportation industry. With an international network of offices, we have the capability and expertise to handle all finance-related enquiries.
What we do in Project and Infrastructure Finance
The firm has developed a strong team specialising in major infrastructure projects worldwide, with particular expertise in ports and terminals and offshore oil and gas projects. Our ports and terminals work ranges from greenfield and brownfield projects to investments in mature terminals.
As a natural extension to its shipping and maritime experience, the firm has developed a strong reputation in oil and gas exploration and development projects and offshore services. The work includes drafting and negotiating project agreements and finance documents relating to exploration and production sharing, drilling, rig sharing, and the construction, conversion and use of FPSOs, LNG tankers and FLNG units.
Our experience in Project and Infrastructure Finance
We provide below some examples of our work in Project and Infrastructure Finance:
- Acting for a leading bank as arranger of a secured mezzanine loan raised through the high yield market to assist in financing the purchase by Stena of a sixth generation drillship constructed at Samsung Heavy Industries in Korea. The overall debt package arranged by Citigroup was $464m with the senior debt comprising a combination of export credit finance (from The Export-Import Bank of Korea and Eksportfinans ASA) and syndicated commercial bank debt. This deal was high-profile, innovative and won the Lloyd's Shipping Economist award for "Project Finance for Shipping" deal of the year, as well as the Jane's Transport Finance "Shipping Debt Deal of the Year - Europe" award.
- Advising our client in connection with its mining contract with Henry Walker Eltin. This was valued at US$1.2 billion and involved mine infrastructure development and coal mining sources at the Bengalon Project in East Kalimantan.
- Acting for an independent oil company in the Middle East in connection with the preparation and negotiation of bid documents for the installation of FPSOs offshore Qatar.
- Acquisition of a further stake in a container terminal in Gujarat, India. The work included (a) the renegotiation of the existing shareholders' agreement and financing security arrangements, (b) negotiation of further financing for the future development of the terminal, (c) establishment of terminal operations agreements including offshore support services agreement, terminal management agreement and limitation of authority for executive committee and board of directors of the terminal operating company.
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