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Mayer Brown advises on Project Finance International’s “Deal of the Year” winners

2 January 2014
Mayer Brown, a leading global law firm, announced that it provided counsel on two of Project Finance International’s (PFI) 2013 “Deal of the Year” winners. The annual awards recognize deal innovation, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects. The deal winners are:

• Americas P3 Deal of the Year – Luis Muñoz Marin International Airport: Mayer Brown represented the Puerto Rico Public-Private Partnerships Authority, a public corporation of the government of Puerto Rico, and the Puerto Rico Ports Authority on an approximately $2.6 billion, 40-year lease agreement with Aerostar Airport Holdings LLC to privatize Luis Muñoz Marín International Airport in San Juan. The transaction marked the first privatization of a major airport in the US and “broke several records in the market, including the largest bid book for a non-144A BBB transportation infrastructure asset, and the biggest tightening from initial price talk,” according to PFI. The team was led by partner John Schmidt and included partners David Narefsky, Joseph Seliga and Simeon Kriesberg and associates Jeromy Cannon and Mitch Holzrichter.

• Americas Transportation Deal of Year – Ohio River Bridges, East End Crossing: Mayer Brown represented WVB East End Partners as sponsors’ counsel on WVB’s public-private partnership with the Indiana Finance Authority to fund the Ohio River Bridges East End Crossing Project, which PFI noted was one of the “largest transportation undertakings in the US in 2013.” The financing for the toll bridge and roadway was achieved through the sale of more than $675 million in tax-exempt private activity bonds, which was “the largest private activity bond to-date for a p3 transport deal, as well as the first for a US P3 highway availability-payment transaction,” according to PFI. The publication also noted the innovativeness of the transaction that had to overcome “many obstacles” and “required intricate cooperation between states.” The team included partners David Narefsky, Joseph Seliga, Joanna Horsnail, George Miller and John Lawlor, counsels Richard Ziegler and Joseph Organ, and associates Stephanie Wagner, Mitchell Holzrichter and Sandy Zhang.

Mayer Brown’s multidisciplinary domestic and cross-border infrastructure practice group advises on a full range of infrastructure transactions. The practice is consistently ranked in leading guides, including Chambers USA, Chambers Latin America, Chambers Asia and The Legal 500. Additionally, lawyers in the practice have been recognized for their innovativeness in handling numerous complex deals within the infrastructure sector by top-tier business and industry publications, including Financial Times, The American Lawyer, Infrastructure Investor and The Bond Buyer.

Published by Thomson Reuters, Project Finance International is the leading source of global project finance intelligence.

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