robert wray PLLC (RW) is focused on providing assistance to commercial lenders, export credit agencies, multilateral development banks and developers in all aspects of a project finance transaction. RW attorneys are thoroughly familiar with structures frequently utilized to facilitate project finance as well as the provisions of EPC contracts, service and management contracts, operation and maintenance agreements, licenses, leases, concession agreements and similar arrangements. Members of the RW team have served as senior officers at several of the Washington-based international financial institutions, enabling RW members to provide clients with a first-hand understanding of these institutions’ programs and policies.
RW attorneys have participated in transactions involving private as well as government bilateral and multilateral financial institutions including, for example:
- Assistance to a commercial bank in a two-phase, limited-recourse financing facility of $64 million, insured for political risks by the Multilateral Investment Guarantee Agency, to rehabilitate a Nicaraguan geothermal power plant jointly operated by the national electric company and a geothermal plant operating company. Energy generated by the plant is sold to the national electric company under a power purchase agreement with the operating company.
- Assistance to sponsor in structuring and negotiating with US Overseas Private Investment Corporation and US Treasury for $400MM portion of the $1.5 billion government/private sector Sivam project in Brazil.
- Financial advisory for the entire financing structure, including multilateral financing institutions, trading companies, and export credits, for $300 MM, semi-submersible drilling platform for Petrobras in Brazil.
- Advice to Constructora Mendes Junior (Brazil) on structure and funding for $500 MM government/private railway project in Iraq (pre-war).
- Advice to Constructora Mendes Junior (Brazil) on structure and funding for $250 MM government/private project finance for Bosphorous bridge and toll road project in Turkey.
- Advice to Hebei Bada Group in structure and documentation of $30 MM non-recourse debt for synthetic diamond manufacturing joint venture of provincial Chinese government and a German company.
- Assistance to a commercial bank in the negotiation of a limited-recourse financing, to be insured for political risks by Multilateral Investment Guarantee Agency and eligible for a US Export-Import Bank guarantee, to build, own and operate a geothermal power plant in Kenya.
- Assistance to sponsor in negotiation and drafting of $50 MM non-recourse project financing for textile factory in the Philippines utilizing debt and equity from International Finance Corporation, Asian Development Bank and Asian Finance Investment Company (the equity investment affiliate of the Asian Development Bank at the time).
- Representation of commercial bank in a limited-recourse financing of $108 MM to a company dedicated to the provision of satellite-based broadband and internet access services to North American consumers, small business and home office customers and internet service providers.
- Advice to Swiss airport operator and German contractor on project finance structure and terms of an indicative offer for the purchase of East Midlands International Airport Ltd. and Bournemouth International Airport Ltd. and the purchase of shares of Bristol International Airport PLC.
- Advice and preparation of due diligence for purchase of shares by German airport operator in a Mexican government-corporation holding company with a 50-year concession to operate 13 airports in Mexico’s Pacific Region. Assignment involved negotiation of shareholders and consortium agreements, due diligence of all concession agreements and laws and regulations, review of airports’ existing obligations and contracts, preparation of bid documentation and advice regarding project finance structure.
- Preparation of due diligence and advice on joint venture structure for purchase of shares by Swiss airport operator in government-corporation holding company with a 50-year concession to operate 11 airports in Mexico’s North-Central Region. Assignment involved negotiation of shareholders and consortium agreements, due diligence of all concession agreements and laws and regulations, review of airports’ existing obligations and contracts, preparation of bid documentation and advice regarding project finance structure.
- Advice and preparation of due diligence for purchase of shares by German airport operator in a Mexican government-corporation holding company with a 50-year concession to operate 9 airports in Mexico’s Southeast Region. Assignment involved negotiation of shareholders and consortium agreements, due diligence of all concession agreements and laws and regulations, review of airports’ existing obligations and contracts, preparation of bid documentation and advice regarding project finance structure.
- Advice and preparation of due diligence review of a large, international group of container seaports and preliminary structuring and negotiation of purchase terms suitable for project finance for a large European client.
- Assistance to Haitian Government in privatization and project finance of Port au Prince seaport, including due diligence review of all laws and regulations, review of seaport’s existing obligations and contracts, preparation of model concession and alternative management agreements and recommendations for modality of privatization.
- Advice to German airport operator on terms of a long-term concession and project finance for operation of Peru’s Jorge Chavez International Airport by private-sector consortium. Assignment involved initial negotiation of shareholders and consortium agreement.
- Acting for Joint Venture and German airport operator in drafting and negotiation of EPC agreement for new $350 MM international terminal at Ninoy Aquino International Airport in Manila, Philippines to meet project financing requirements.
- Preparation of due diligence and advice to a German airport operator on a joint venture and project finance structure for a long-term concession for operation of international airport in Panama.