C&P Working on Ethanol Deals Representing More Than 1 Billion Gallons in New Production
Houston — November 3, 2005 — Chadbourne & Parke LLP represented Abengoa Bioenergy of Ravenna in connection with financing of a greenfield ethanol plant in southeastern Nebraska, one of the largest corn producing regions in the United States.
The project includes the development and operation of an 88 million gallon-per-year ethanol plant in Ravenna, Nebraska. The financing closed on October 28. Terms were not disclosed.
Total senior debt on the deal will be $90 million.
Working on the deal for Chadbourne were partners Todd Alexander and David Schumacher in Houston, Andrew Giaccia in Washington DC and Marjorie Glover in New York. Associates Jonathan Phillips in Houston and Micaela Garcia-Ribeyro in Washington also worked on the deal.
Chadbourne currently represents participants involved in the development of more than 1 billion gallons of new ethanol production.
Construction on the plant is expected to be completed in February 2007. The plant will use about 32 million bushels of corn each year.
The recently enacted Energy Policy Act includes a renewable fuels standard, which requires the blending of 7.5 billion gallons of renewable fuel, including ethanol and biodiesel, into motor fuel by 2012.
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, insurance and reinsurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Almaty, Beijing, and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.