Mayer Brown advises on the transaction named “Europe Refinancing Deal of the Year” by Project Finance International 2014
8 January 2015
London - Leading global law firm Mayer Brown advised Budapest Airport on its comprehensive refinancing, which was named “Europe Refinancing Deal of the Year” in the annual Project Finance International (PFI) Awards 2014. The awards recognise deal innovation, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects.
As one of the largest ever refinancings to take place in Hungary, the complex €1.4 billion refinancing of Budapest Airport included a unique financing structure, which involved deleveraging the senior debt by putting a €300 million junior facility in place, a €1.1 billion five-year senior term loan and a €1.1 billion swaps arrangements to match the liabilities of the new debt facilities. Mayer Brown worked alongside financial advisors Rothschild, as well as a large and diverse group of investors in the complicated process.
The Mayer Brown team was led by Banking & Finance partner John Clark and included Banking & Finance and client relationship partner Graham Wedlake, Banking & Finance partners Ashley Katz and Chris Arnold, senior associate Andrew Crotty and associate Kunel Tanna.
The firm also advised both HSBC Securities (USA) Inc. and BNP Paribas Securities Corp. on the Abengoa Transmisión Sur (ATS) transaction which was named “Americas Bond Deal of the Year” and advised IFC on the financing of PAU Ammonia Projects in Indonesia named “Asia Pacific Petrochemical Deal of the Year” at the PFI Awards 2014.
Published by Thomson Reuters, Project Finance International is the leading source of global project finance intelligence.