Five major infrastructure and energy deals led by Baker McKenzie in 2019 were recognized by the IJGlobal Awards. The Project Finance and Infrastructure Journal (IJ Global) has been recognizing top transactional work for almost two decades, lauding the “best-in-class transactions and organizations across the international infrastructure and energy sectors.”
“We are very honored to be recognized once again by IJGlobal for our transactional work,” said James O’Brien, Chair of the Firm’s Global Projects Group. “Our unique cross-border capabilities enable our teams to work together seamlessly across regions to support complex, multijurisdictional deals. Baker McKenzie is well-positioned to continue providing legal advice on key projects globally.”
IJGlobal recognized the following transactions:
Best Roads PPP: North Tarrant Express Segment 3C
Baker McKenzie represented BofA Securities, Inc. and Barclays Capital, Inc. as underwriters in connection with a private activity bond offering issued by the Texas Private Activity Bond Surface Transportation Corporation on behalf of the project company and developer, NTE Mobility Partners Segments 3 LLC Segment 3C. The principal amount of USD 653 million raised will finance the construction of an additional approximately 6.7 miles of managed toll lanes along I 35-W in the Dallas - Ft. Worth transportation corridor.
Baker McKenzie's team was led by partners José Morán, Mark Tibberts, Emeka Chinwuba with support from Carol Stubblefield, Juan Gonzalez, Ryan Bingham, Maria Diago and Joseph Folds.
Best Telecom PPP: Internet Para Todos
In Lima, Baker McKenzie advised Telefonica Peru in a joint investment deal to expand mobile broadband services in the country. The investors, which included Telefonica, Facebook, the Development Bank of Latin America and IDB Invest, collectively invested USD 150 million into Internet para Todos (IpT), a wholesale rural mobile infrastructure operator that aims to bring mobile broadband to remote areas of Peru.
IpT will use Telefonica’s existing rural network coverage and will further expand 3G and 4G mobile infrastructure with the investors’ support. If the project is successful, the investors hope to replicate the business model in other parts of Latin America.
Baker McKenzie's team was led by partner Rafael Picasso and associate Carla Figallo.
Best Rail PPP: Ferrocarril Central
Baker McKenzie advised consortium Grupo Vía Central S.A. on the financing for the construction of the Uruguay Central Railway project. The project, with an estimated value of USD 1.07 billion, is the largest private investment made in Uruguay and will be the country's largest infrastructure project to date.
The Baker McKenzie team was led by partner Margarita Oliva Sainz de Aja and associate Cristobal Larrain and includes Rafael Berckholtz, Michelle Pfeffer and Carlos Suarez. The team was also supported by tax, environmental and employment lawyers.
Best Distributed Power Deal: Ergon
Baker McKenzie advised Ergon Peru S.A.C. on the issue of its inaugural Green Bond through a private placement offering. Acting as a subsidiary of leading renewable energy firm Tozzi Green, Ergon Peru issued a USD 222 million fully amortizing 4.87% fixed rate bond that matures in 2034.
The proceeds from the Green Bond issuance will fund the implementation of the world’s largest rural electrification project, the installation, commissioning and 15-year maintenance of approximately 215,000 small photovoltaic systems with storage in off-grid rural areas in the north, central and southern regions of Peru.
The team included Juan Carlos de los Heros Echecopar, Rafael Berckholtz Velarde, Luis Marín, Uldarico Ossio and Katherine Zapata de la Piedra, in Lima, as well as Margarita Oliva Sainz de Aja, in New York.
Best Waste Deal - Belgrade Energy from Waste
Baker McKenzie advised Suez, ITOCHU Corporation and Marguerite as the successful sponsors and their joint venture company Beo Čista Energija on the EUR 290 million project financing of the 25-year PPP (Public-Private-Partnership) to develop a new system to treat the municipal waste of the City of Belgrade.
The project is the largest PPP ever signed in Serbia and will close one of the largest uncontained landfills still active in Europe. This is a national and local priority since it will contribute to Serbia meeting targets in the area of waste management and environmental protection to help with its EU accession negotiations. The scheme will involve the remediation of the municipal waste landfill and the financing, construction, and long-term operation of modern waste management facilities for the Serbian capital.
The Baker McKenzie team for the project financing phase was led from London by partner Marc Fèvre and included senior associates Chantel van Zyl and Luka Lightfoot, and associates Saskia Volhard, Andrew Hope and Lesley-Anne Wilson. In the commercial phase, the team was co-led by partner Mike Webster and also included Senior Associate Rhiannon Williams. The core team was supported by Baker McKenzie's offices in Paris (led by Partner Gonzague Basso), Luxembourg (led by Partner Jean-François Trapp) and Tokyo (led by Partner Shinichiro Kitamura and Senior Associate Junya Suzuki) and by Baker McKenzie's Project Management Team.