19 February 2015
Mayer Brown and Mayer Brown JSM also named a finalist for a “Firm of the Year” award, two “Team of the Year” awards and eight “Deal of the Year” awards
International Financial Law Review (IFLR) has awarded Mayer Brown Banking & Finance partner Jason Kravitt (New York) the 2015 “Outstanding Achievement” award for the Americas in recognition of his “tremendous contribution to securitization law,” the publication said. Presented as part of IFLR’s annual Americas Awards series, the award recognizes lawyers who have made significant contributions to the practice of law throughout their careers.
At Mayer Brown, Mr. Kravitt is a senior partner in the securitization practice, which he founded at the firm. He has helped Mayer Brown’s clients create some of the most significant securitization products used in the capital markets today, including the first partially enhanced multi-seller asset-backed commercial paper vehicle, the first CLO and the Mortgage Partnership Finance Program for the Federal Home Loan Banks. Mr. Kravitt is equally well-known for representing industry groups lobbying with regard to new laws and regulations concerning securitization and risk-based capital, leverage ratios, and other Dodd-Frank matters.
One of the three founders and the former deputy chair of the American Securitization Forum (ASF), Mr. Kravitt is currently a board member and officer of the successor to the ASF, the Structured Finance Industry Group. He is a founder and the sole original member still serving on the board of directors of the Association for Financial Markets in Europe.
In addition, for 2015 IFLR also has named Mayer Brown as a finalist for “Firm of the Year” and for “Project Finance Team of the Year” in the Americas Awards. Mayer Brown JSM has been nominated for “Restructuring Team of the Year” in the Asia Awards. These awards recognize firms and teams that are “changing the legal market today”—whose deals “break new legal ground and set market precedents.”
Mayer Brown also advised on eight matters that were named finalists by IFLR for “Deal of the Year” recognition:
- IFLR European Awards: Securitization and Structured Finance Deal of the Year –Mayer Brown represented the originator of the Project Slate securitizations on the standalone issuance of £2.7 billion in residential mortgage backed securities.
- IFLR Asia Awards: Restructuring Deal of the Year – Mayer Brown JSM represented The Bank of New York Mellon as trustee on a large-scale, cross-border restructuring of the liabilities of LDK Solar Co., Ltd by schemes of arrangement promulgated under the laws of the Cayman Islands and Hong Kong. The schemes were part of a global restructuring plan which involved applications to the US Bankruptcy Court, including Chapter 11 and Chapter 15 filings.
- IFLR Asia Awards: Restructuring Deal of the Year – Mayer Brown JSM advised Taiwanese bank ship finance bilateral lenders and syndicates on the recovery of more than US $400 million of loans secured over vessels. The cross-border deal involved Hong Kong, USA, Singapore, South Africa and Malta.
- IFLR Americas Awards: Loan Deal of the Year – Mayer Brown represented The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. in a US $1.8 billion financing for Sociedad Minera Cerro Verde S.A.A. The proceeds will be used to finance a portion of the cost of the US $4.6 billion expansion of the Cerro Verde copper and molybdenum mining complex in Peru.
- IFLR Americas Awards: Project Finance Deal of the Year – Mayer Brown drafted consent agreements and prepared legal opinions on behalf of BHP Chile in the project financing of its Kelar natural gas plant in Chile. The firm also represented BHP Chile in the commercial agreements for fuel supply and power offtake with the plant owners and operators.
- IFLR Americas Awards: Project Finance Deal of the Year – Mayer Brown represented Goldman, Sachs & Co., BBVA and Credicorp Capital as underwriters and loan arrangers on the approximately $520 million senior secured bond and an approximately $200 million senior secured loan for Rutas de Lima S.A.C. for a $1 billion public-private partnership toll road project in Lima, Peru.
- IFLR Americas Awards: Project Finance Deal of the Year – Mayer Brown represented the Texas Department of Transportation in a competitive procurement for and the structuring of a public-private partnership for the design, construction, financing, operation and maintenance of Texas SH 183 managed lanes project, located in the Dallas/Ft. Worth area.
IFLR is a monthly magazine that covers legal issues and legal risk in the world’s financial markets, and provides readers with a global perspective on the business of law.