9 April 2008
9 April 2008 - Mayer Brown LLP, a leading international firm, is pleased to announce that the firm has received two 2008 Americas Awards from International Financial Law Review (IFLR
) for Project Finance Deal of the Year and Project Finance Team of the Year.
Mayer Brown's Global Projects Group and Latin America Practice were recognized for Project Finance Deal of the Year
for the innovation and ingenuity involved in financing for the Jorge Chávez International Airport in Lima, Peru. Mayer Brown represented Merrill Lynch, the project underwriters, in the $164.9 million refinancing and securitization of revenue flows from the airport. Mayer Brown lawyers were instrumental in persuading agencies and investors that the revenues available to Latin airport investors had been undervalued by debt markets. A coveted investment grade rating was achieved as a result of this deal. Project Team of the Year
honors went to the Global Projects Group in recognition of its unmatched track record, continuous innovation around the world and broad industry knowledge. Barry Machlin, Co-Chair of the Global Projects Group, said, "We appreciate this recognition from IFLR,
which highlights our ability to provide innovative, multi-disciplinary legal services to a wide range of clients in global project finance and development transactions."
Among the specific projects noted by IFLR
- Hidro Xacbal Hydroelectric Project in Guatemala, the largest privately owned hydroelectric facility in Guatemala and the largest privately financed greenfield project in Central America [in 2007]. The Mayer Brown team represented lead financing arranger RBTT Merchant Bank in securing a $171 million, 15-year term loan that was essential to completing financing of the $226.7 million project. Negotiations were conducted with a diverse mix of local, international, multilateral and commercial banks from Europe, Central America and the Caribbean.
- IIRSA Sur Toll Road Peru, a $1.2 billion face amount offering of pass-through notes by a special purpose entity supported by future payments by the Government of Peru. The transaction used highly-innovative securitization and derivative techniques that permitted the concessionaires for the IIRSA Sur road network to have an assured source of payment issued by the government of Peru in compensation for completed portions of the road network.