22 April – LAWFUEL – The Law News Network – Debevoise & Plimpton LLP’s leading project finance practice has been recognized with six “Deal of the Year” awards from three prestigious publications, Thomson Financial’s Project Finance International, Euromoney’s Project Finance Magazine, and LatinFinance magazine. In addition, Project Finance Magazine ranked Debevoise as the top legal adviser on Latin American project finance transport deals in 2004.
Debevoise’s 2004 award-winning project finance “Deals of the Year” include:
“Asia-Pacific Petrochemicals Deal of the Year,” Euromoney’s Project Finance Magazine: The firm advised Mitsui & Co., Ltd., the Sumitomo Mitsui Banking Corporation and a syndicate of international foreign lenders in the refinancing of the Tuban petrochemical complex in eastern Indonesia, a sophisticated project that involved a novel structure dependent on revenues generated by the sale of $650 million of petroleum products by Indonesian state-owned oil company, PT (PERSERO) Pertamina.
“Latin American Transport Deal of the Year,” Euromoney’s Project Finance Magazine: The firm acted as lenders’ counsel to XL Capital in the $270 million multi-source financing for the Americo Vespucio Sur toll road in Santiago, Chile.
“Latin American Refinancing Deal of the Year,” Euromoney’s Project Finance Magazine, and “Best Project Finance Deal of 2004,” LatinFinance magazine: The firm acted as lenders’ counsel to MBIA Insurance Corporation in a multisource financing for the Autopista del Maipo Chilean toll road concession from Santiago to Talca. The deal implemented a novel mecanismo de distribución de ingresos (MDI) to hedge against the risk of insufficient traffic by converting the concession to a variable term contract.
“Best Project Finance Deal of 2004,” LatinFinance magazine: Americo Vespucio Norte toll road in Santiago, Chile, in which Debevoise acted as lenders’ counsel to MBIA Insurance Corporation in a local currency inflation indexed project bond financing of approximately $425 million, the largest long-term infrastructure bond in Chilean history, and a high-water mark in the development of the Chilean capital markets.
“Infrastructure Deal of the Year” in the Americas, Project Finance International magazine: Debevoise acted as U.S. counsel to MBIA Insurance Corporation in the ground-breaking Monterrey-Cadereyta toll road in the State of Nuevo Leon, Mexico. The project implemented a novel structure for the financing of infrastructure at the sub-sovereign level in Latin America.
Ivan E. Mattei, co-head of the firm’s Project Finance Group, said “We are honored that our role in helping our clients design and implement novel financing structures has been recognized.”
Debevoise’s project finance practice is focused on the development of innovative financing structures and techniques for complex and large transactions. Based in New York, London, Moscow and Hong Kong, the firm’s project finance practice has the experience and capacity to work on all aspects of the most demanding projects on every continent.
Debevoise & Plimpton LLP is a leading international law firm, representing a wide range of clients around the world. Founded in 1931, the firm has offices in New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai. The firm now has over 640 lawyers, including more than 100 lawyers in Europe. For more information, please visit our website at www.debevoise.com.