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Mayer Brown announced that Chicago Government Transactions and Projects & Infrastructure partner Stephanie Wagner was named a “Lawyer of the Year” at IFLR1000 Canada and United States Awards 2021. In addition, the firm advised on three transactions highlighted as “Deal of the Year.”

Ms. Wagner, named in the Project Finance category, focuses her practice in the areas of state and local government law, infrastructure development and public finance, advising on path-breaking infrastructure transactions, including mass transit and rail, roads and bridges, airports, ports, parking and social infrastructure projects. She represents government owners, developers, sponsors, lenders, and underwriters in a wide array of infrastructure matters across the US, including public-private partnerships. Notably, Ms. Wagner led our representation of the underwriter on the Gilcrease Expressway West PPP recognized as a “Deal of the Year” described below.

The “Deals of the Year” are:

Capital markets: debt - United Airlines MileagePlus high-yield bond issue

Mayer Brown advised Goldman Sachs Lending Partners LLC, as sole structuring agent and lead left arranger and bookrunner, and Goldman Sachs Bank, as administrative agent, on a first-of-its-kind $6.8 billion financing consisting of $3.8 billion of senior secured high yield bonds and $3 billion of senior secured institutional term loans to United Airline's loyalty program, MileagePlus. This innovative transaction involved a unique structure that is a hybrid between a securitization and a corporate debt issuance, including the contribution of the MileagePlus program’s intellectual property to a newly formed offshore subsidiary that was structured to be bankruptcy remote.

Project finance - Gilcrease Expressway West PPP $260 million construction and financing

The firm served as underwriter’s counsel for the winning bidder on the Oklahoma Turnpike Authority’s Gilcrease Expressway West build-finance public-private partnership (PPP) project in Tulsa, Oklahoma—the first build-finance PPP project to be procured in the US, and the first roadway PPP undertaken in Oklahoma. The project was financed with $125 million in short-term surface transportation Private Activity Bonds.

Restructuring and insolvency - Macy's restructuring

The firm represented the board of directors of Macy’s, Inc., a publicly-traded retailer with sales of $24.6 billion, in a new $3 billion ABL facility and $1.3 billion secured bond issuance.

The awards celebrate the most innovative, complex and impactful domestic legal work undertaken in the corporate finance space in 2020.