31 March 2009
31 March 2009 – Mayer Brown, a leading global law firm, advised on three deals that received awards from International Financial Law Review (IFLR) in the IFLR 2009 Americas Awards competition. The awards recognized Mayer Brown’s work on the winning Securitization Deal of the Year, Private Equity Deal of the Year and Project Finance Deal of the Year.
“The Mayer Brown teams on these award-winning deals were drawn from multiple offices and practice areas, demonstrating the firm’s ability to mobilize its full resources to help clients with their most challenging legal requirements,” said Mayer Brown Chairman James D. Holzhauer. “We applaud all of the team members for their outstanding work and this well-earned recognition.”
Securitization Deal of the Year was Canadian Imperial Bank of Commerce’s (CIBC) establishment of an €8 billion Global Public Sector Covered Bond Program. This was the first transaction featuring mortgage loans guaranteed by the Canadian Mortgage and Housing Corporation. In this deal, Mayer Brown represented ABN AMRO as arranger for CIBC. The Mayer Brown Finance practice team included New York partner Paul Jorissen and London partners Dominic Griffiths and Ed Parker and senior associates Gina Hartnett, Michèle Daelemans, Aaron McGarry and Matt Baker.
Private Equity Deal of the Year was the acquisition of Aeropuertos Dominicanos Siglo XXI, a group of privately owned airports in the Dominican Republic, by an affiliate of US Advent International, a US private equity firm. The transaction was the first leveraged buyout in the Dominican Republic. Mayer Brown advised The Bank of Nova Scotia, which provided a $350 million syndicated credit facility to the purchaser for a portion of the financing. This award follows Mayer Brown’s work on the refinancing of Lima International Airport, which won IFLR’s Americas Project Finance Deal of the Year in 2008. Working on the deal from Mayer Brown’s Finance practice in Chicago were: partner Douglas A. Doetsch, counsel Richard C. Cummings, associates Stephanie Roark and foreign associate Cinthia Rodriguez.
Project Finance Deal of the Year was won by the Panama Canal expansion, currently the largest project in Latin America, costing $5.25 billion. Mayer Brown’s Global Projects group is advising the Panama Canal Authority regarding the linchpin of the expansion program, the $3.2 billion Locks Contract, and associated technical matters. Mayer Brown also negotiated the key procurement procedures and contracts that will be used throughout the construction process, which is to culminate in 2014. Members of the Mayer Brown team were: Barry Machlin, Co-Head of the Global Projects practice in Chicago and London construction partners Michael Regan and Nick Henchie, solicitor Jon Olson-Welsh and lawyer Stephen Natoli.