Norton Rose Fulbright has advised The Export-Import Bank of Korea (K-EXIM), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Standard Chartered Bank and Banque Saudi Fransi on the US$1 billion project financing of a 950 MW combined cycle natural gas-fired (CCGT) power station in Kirikkale, Turkey.
Welltec, a leading provider of robotic intervention services and completion solutions to the oil and gas industry, today announced a finance agreement with the European Investment Bank to contribute to the development of Welltec’s advanced robotic solutions.
Herbert Smith Freehills has advised Wattle Point Wind Farm Pty Ltd (WPWF) on the refinancing of the 91MW Wattle Point wind farm project. WPWF is wholly owned by the ANZ Specialist Asset Management Limited as trustee of the Energy Infrastructure Trust and managed by Infrastructure Capital Group (ICG).
Viario A31 issues 10-year bonds for €47 million, the longest maturity on the market so far. The Alternative Fixed-Income Market (MARF) has admitted to trading a €47 million bond issue launched by Viario A31, the concessionaire of the Bonete-Alicante section of the A31 highway.
The senior secured bonds have a nominal value of €100,000 per unit and a 10-year term maturing on November 24, 2024. This is MARF’s first project bond issue, with the longest maturity so far.
Mills & Reeve have advised the University of Northampton on financing for their new multi-million pound Waterside Project, which will see the university relocate to a new purpose built campus in the centre of Northampton.
The campus relocation is being funded by a combination of university reserves; capital receipts from the sale of the existing campus; £60 million in loans from the Public Works Loans Board; and a £231.5 million 40 year bond yielding 3.302 per cent per annum to investors.
Watson, Farley & Williams (“WFW”) has advised Crédit Agricole Corporate and Investment Bank (“CACIB”), SACE S.p.A. (“SACE”) and a syndicate of banks on the amendments to the guarantee structure of three loan facilities provided to subsidiaries of Prestige Cruise Holdings Inc. (“Prestige”). These amendments follow Norwegian Cruise Line Corporation Ltd’s (“NCL”) US$3.025 billion acquisition of Prestige.
Skandinaviska Enskilda Banken (SEB) has entered into a facilities agreement with a project company owned by a fund managed by BlackRock, the world’s largest asset manager, to provide the project company with financing for the construction of the 46.2 MW Brotorp wind farm, comprising 14 Vestas V126 3.3MW turbines. Total project costs are estimated to approximately EUR 71 million.
Arise AB (publ) will manage the construction and operations of the wind farm on behalf of BlackRock.
Watson, Farley & Williams (“WFW”) has advised Sound Oil on a €7 million reserve-based lending facility for developing its Nervesa gas discovery, in onshore northeastern Italy. The loan is provided by Greenberry, Sound Oil’s cornerstone investor, and secured on the Carità permit, which includes Nervesa.
Ashurst has advised export credit agencies Japan Bank for International Cooperation ('JBIC'), Korea Ex-Im Bank ('KEXIM'), Nippon Export and Investment Insurance ('NEXI') and the commercial banks on the US$2.8 billion financing for the Donggi-Senoro LNG project in Indonesia, which signed on 14 November.
The lenders included JBIC, KEXIM, Mizuho Corporate Bank, Bank of Tokyo Mitsubishi, Sumitomo Mitsui Banking Corporation, Korea Exchange Bank and NongHyup Bank.
Hogan Lovells today announced that lawyers from its Miami and New York offices advised on a US$100 million seven-year term facility agreement between the Republic of Ecuador and Credit Suisse AG, London Branch. The deal, which closed on 27 October 2014, will finance several infrastructure projects, including roads and university campuses.
Miami partner Miguel Zaldivar led the Hogan Lovells team with assistance from Miami associate Gaston Fernandez and New York associate Diego Carvajal. William Vasconez of the Ecuador Ministry of Finance provided local counsel.