Project and lease finance and development

• Represented a bank affiliate as a tax equity investor in a US$367 million wind farm project using a partnership flip structure.
• Represented a major US municipal utility in negotiations and development of a 400 MW solar photovoltaic (PV) generation facility and economic development project in Texas.
• Represented the borrower in a US$215 million acquisition financing of an undivided interest in a large gas-fired power plant.
• Represented a national bank in the financing of several grid-interconnected, ground-mounted solar electric PV systems located in various states, pursuant to a master lease financing facility in which utilities are the energy off-takers.
• Represented a bank affiliate as lessor and tax equity investor in a sale leaseback financing of several solar generation facilities serving a southern California municipality.
• Represented a lessor in a lease financing of several commercial solar electric PV facilities, in which a US retailer is the energy off-taker.
• Represented various insurance companies as subordinated debt holders in a financing to construct a utility-scale thermal solar generation facility.
• Represented a lessor in a project financing of a multiple grid-interconnected, ground-mounted solar electric PV system, in which a major investor-owned utility is the off-taker.
• Represented a lessor in a lease financing of a distributed generation solar facility in Northern California.
• Represented a developer in negotiating power purchase; engineering, procurement and construction (EPC); and operations and maintenance (O&M) agreements for utility-scale wind farms in Kansas and Texas.
• Represented a financial institution as an equity investor in various wind farm projects using all equity, upfront and pay-as-you-go structures.
• Represented a US bank as the lead investor and agent in a US$1.2 billion financing for the acquisition and construction of four gas-fired power plants in Illinois, Pennsylvania and Arizona.
• Represented a bank and institutional lender in a US$600 million financing for the acquisition and construction of a merchant gas-fired power plant in Southern California.
• Represented a US bank and arranger in a US$850 million commercial paper lease financing for the acquisition and construction of power plants in various states.
• Represented various banks and institutional lenders in a US$200 million financing of merchant power plants in Georgia and Kentucky coupled in an Industrial Revenue Bond financing.
• Represented banks and institutional investors in a US$630 million financing for the construction and operation of a floating production storage vessel in the North Sea funded through the bank syndication market and the European Investment Bank.
• Represented a bank leasing company as an equity investor in a US$57 million leveraged lease financing of petrochemical facilities.
• Represented a US leasing company of a Dutch bank in a cross-border, leveraged lease financing of a natural gas transportation and distribution network in the Netherlands.
• Represented a US leasing subsidiary of a foreign bank holding company as equity participant in a leveraged lease financing of offshore oil production facilities in Brazil.
• Represented a wind farm developer in preparation of wind farm land leases and easements.
• Represented a US bank as lessee in a US$1.3 billion lease facility for railcars funded by commercial paper facilities and syndicated bank debt.
• Represented financial institutions and arranger bank in a US$360 million financing of an office tower at One Columbus Circle in New York City.
• Represented a bank lending group in a US$245 million syndicated financing for the acquisition and construction of distribution and warehouse facilities in various states.
• Represented a commercial paper conduit and arranger in a US$185 million lease financing of service stations.
• Represented the arranger and agent in a US$70 million lease financing for the acquisition and construction of retail stores for a US retailer.
• Represented a US bank, its subsidiary as tranche B debtholder and equity investor in a US$55 million commercial paper funded lease financing for the purchase of land and construction of a corporate office building.
• Represented the equity participant in a qualified technological equipment (QTE) single-investor lease transaction of mobile telecommunications networks to a Southeast Asian telephone company involving approximately US$300 million in equipment cost.
• Represented a US leasing subsidiary of a foreign bank holding company as arranger and lessor in a US$150 million synthetic lease of railcars.
• Represented a Japanese electronics company and a US technology company in a US$215 million lease financing for the purchase and installation of equipment for the manufacture of NAND flash memory integrated circuits.
• Represented a US bank in the renegotiation of leveraged leases with a domestic airline in Chapter 11 bankruptcy proceedings.
• Represented a US bank as agent, lender and liquidity in a US$134 million commercial paper funded master lease facility for commercial jet engines.
• Represented equity investors in the financing of a ferry boat from a Swedish shipping company and subleasing the ferry back to the government-owned Swedish company in a tax-advantaged, lease-in/lease-out arrangement.
• Represented a US bank and a subsidiary of a Canadian bank holding company as an equity investor in the financing of a commercial aircraft from a UK charter company in a tax-advantaged, lease-in/lease-out arrangement.
• Represented leasing subsidiaries of US and foreign banks as equity participants in cross-border leveraged lease financings of commercial aircraft.
• Represented a lessor in a single-investor terminal rental adjustment clause (TRAC) lease of automobiles to a major automobile rental company.
• Represented the equity participants in a domestic lease to service contract transaction of rail equipment for a municipal government transportation authority.
• Represented the equity participants in connection with the delivery of government securities as additional collateral for equity payment undertaking agreements in cross-border lease transactions following the downgrade of a European bank.

Leveraged and general lending

• Represented a California-based provider of residential home solar energy systems in a US$50 million secured mezzanine financing transaction with a private equity firm that provided our client a means to monetize the excess cash generated by its operating subsidiaries after servicing its tax equity investors.
• Represented a US bank as an agent and arranger in a US$131 million secured term loan facility for the acquisition of companies operating port facilities in Mexico funded by syndicated bank debt and the International Finance Corporation.
• Represented a bank lending group in a US$75 million term loan facility for the acquisition of petroleum refinery facilities in California, Oregon and Washington.
• Represented a US bank as agent and arranger in US$70 million asset-based loan facility for an international construction equipment leasing company.
• Represented the borrower in an acquisition financing of an undivided interest in a large gas-fired power plant in Texas.
• Represented a US bank as agent and arranger in a US$60 million secured term loan facility to refinance chemical plants in Alabama and Arkansas.
• Represented a foreign government-owned borrower in US$1 billion in revolving credit and commercial paper facility.
• Represented a domestic and a Mexican lender group in peso-denominated, secured term loan facility to finance computer equipment for placement by the Mexican government in classrooms in Mexico.
• Represented a financial institution in connection with the purchase of enhanced equipment trust certificates relating to five commercial aircraft leased to a domestic US air carrier.
• Represented a major financial institution in structuring that institution’s working capital, real estate and floor-plan financing programs for the automobile industry.

Securitizations

• Represented a US bank as arranger and agent in a US$95 million securitization of shipping receivables payable by various Japanese auto manufacturers for shipping services provided in Mexico.
• Represented a US bank as arranger, agent and liquidity bank in a US$75 million securitization of lease receivables relating to titled vehicles, computers and communication equipment.
• Represented a US bank as arranger, agent and liquidity bank in a securitization and backup warehouse facility of lease receivables for computers and other operating equipment.
• Represented a US bank as arranger, agent and liquidity provider in a US$70 million securitization of receivables relating to software licenses.
• Represented arranger bank in structuring and documenting swing line loan facilities to provide alternative financing for several securitization facilities during the recent disruption in the commercial paper market.