Dentons announced that it has advised Emirates Steel Industries (ESI) and Senaat on their recent US$1.3 billion refinancing. The transaction is one of the largest to have closed in the UAE this year and involves an innovative hybrid corporate/project financing structure which allowed ESI to obtain highly competitive terms. Both international and local banks participated in the financing, which contained conventional and Islamic tranches.

Watson, Farley & Williams (“WFW”) has advised ABN AMRO Bank N.V. (“ABN AMRO”) in relation to the delivery to Eco Shipping Limited of Malta, of a 38,700dwt handysize open hatch box shaped dry-bulk vessel constructed at the Chinese shipyard Yangfang Group Co. Ltd. Upon delivery, the vessel has been named “Giulia I” and been registered under the Maltese flag.

Eco Shipping Limited of Malta is fully owned and controlled by Venice Shipping and Logistics S.p.A. (“VSL”).

King & Wood Mallesons SJ Berwin advised Les Villages Nature de Val d’Europe S.A.S., a joint venture between Euro Disney S.C.A. and Pierre & Vacances - Center Parcs Group, on the signing of financing agreements for the initial stage of Phase 1 of the construction of the Villages Nature project, backed by institutional investors.

Located 32 km East of Paris in Seine-et-Marne, Villages Nature is a new, innovative European eco-tourism destination designed for short and medium-length stays.

Allen & Overy said today the USD5.5 billion STAR Rafineri underlined growing demand from lenders to participate in Turkish infrastructure and energy financings.

The deal was not only significant because of its size – Turkey’s largest ever project financing – but also for the number of financial institutions and export credit agencies involved. Allen & Overy advised CESCE, Export Development Canada, JBIC, K-SURE, NEXI, SACE, US Ex-Im Bank and 16 commercial banks in one of the most complex multi-source financings ever to be brought to signing in Turkey.
 

Shearman & Sterling advised the US Department of Transportation in connection with a $325 million Transportation Infrastructure Finance and Innovation Act loan for the Gerald Desmond Bridge replacement.

When completed, this bridge, located in Southern California, will help reduce congestion by offering travelers six lanes and it will have a higher vertical clearance which will accommodate the newest cargo ships.

Clifford Chance has advised RheinEnergie AG on the project agreements and financing for the upgrading and extension of the Niehl 3 combined cycle power plant in Cologne.

The EUR 202 million financing was arranged jointly by Helaba (as mandated lead arranger and agent), Commerzbank and NRW.BANK.

The new combined cycle block is due to become operational in 2016. It will have an output of 450 MW and will provide electricity to up to one million homes. The combined cycle (power/heat) will also provide up to 265 MW of heat.

On 13 May 2014 the financial close of the Gemini offshore wind farm took place. It is the largest renewable energy project in both scope and funding ever conducted in the Netherlands. The wind farm is owned by the Canadian Northland Power Inc. (60%), Siemens (20%), Van Oord (10%) and HVC (10%). This wind farm in the North Sea will consist of two blocks of 75 windmills. The 150 wind turbines will provide a capacity of 600 megawatts (MW), supplying some 785,000 households with green electricity. The financing for the construction of the wind farm totals EUR 2.8 billion.

Clifford Chance advises a German syndicate of banks in relation to the financing of two wind farms in southern Ontario, Canada. The syndicate of lenders consisting of KfW IPEX-Bank and Landesbank Hessen-Thüringen Girozentrale provides debt finance in the form of EUR and CAD facilities for the construction of the two wind farm projects Springwood and Whittington. Further wind farm projects in that region shall follow.

Ashurst recently advised an affiliate of PT CT Corpora ("CT Corp") on the acquisition financing of a rights issue by a major Indonesian airline.

The team from Ashurst's Hong Kong office was led by finance partner Dominic Gregory.

CT Corp is a rapidly growing, diversified Indonesian-based holding company that is active in, among other things, financial services, media, lifestyle and entertainment, and natural resources.

Watson, Farley & Williams (“WFW”), advised sole lead arranger CIT Maritime Finance, in relation to a US$95.2 million senior secured credit facility it provided to Heron Ventures. The financing supports Heron’s acquisition of a fleet of 12 drybulk vessels and related assets from bankrupt Italian shipping company Deiulemar Shipping.