Milbank Wins 5 Project & Infrastructure Finance ‘Deal of the Year’ Awards
Milbank LLP was honored with six awards at LatinFinance’s annual Project & Infrastructure Finance Awards, published on September 30 in the latest edition of the magazine. The firm was named “Infrastructure Law Firm of the Year: Latin America” and earned awards for “Infrastructure Financing of the Year: Latin America,” “Infrastructure Financing of the Year: Mexico,” “Airport Financing of the Year,” “Local Currency Financing of the Year” and “Renewable Energy Financing of the Year.”
Since launching in 2013, LatinFinance’s Project & Infrastructure Finance Awards have recognized the most impressive transactions and institutions crucial to the economic growth of Latin America and the Caribbean. Winners are selected following a review of information and data from market participants, interviews with industry leaders and additional research conducted by LatinFinance’s editorial staff.
Dan Bartfeld, practice group leader of the firm’s Global Project, Energy and Infrastructure Finance Group, noted: “We are honored to be named as the leading law firm in Latin America and as lead counsel on five ‘Deal of the Year’ transactions by LatinFinance. These awards reflect the cutting-edge, complex transactions we are proud to support our clients on. We are proud of our commitment to the development of energy and infrastructure projects in the Latin America market.”
In addition to garnering the Infrastructure Law Firm of the Year award, Milbank transactions were also honored in the following categories:
- Infrastructure Financing of the Year, Latin America – Glenfarne/EnfraGen’s Debt and Bond Financing: Milbank advised the initial purchasers and lenders in connection with a bank/bond financing by EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U., valued at $1.76 billion.
- Infrastructure Financing of the Year, Mexico – Tierra Mojada 144A Project Bond: Milbank represented the issuer (a subsidiary of certain investment funds managed by The Blackstone Group, Inc.), which owns and operates the 874.5MW Tierra Mojada natural gas-fired combined-cycle combustion turbine power generation facility located in Mexico, in connection with the $953 million offering of 5.750% senior notes due 2040.
- Airport Financing of the Year – Lima Airport Expansion: Milbank advised the lenders in the $450 million financing to Lima Airport Partners (“LAP”) for the expansion of the Jorge Chávez International Airport, located in Lima, Peru.
- Local Currency Financing of the Year – Montes de Maria 144A Project Bond: Milbank advised the guarantor in the issuance of COP 760 million (approximately USD 203 million) 4.100% senior secured UVR indexed Rule 144A notes due 2045 by a Colombian toll-road operator Montes de Maria, controlled by Sacyr Concesiones S.L., to refinance over 192 km of toll roads (the Puerta de Hierro Toll Road). The bonds qualified as social bonds under the “2020 Social Bonds Protocol” issued by the International Capital Markets Association (ICMA).
- Renewable Energy Financing of the Year – Mainstream’s Huemul Renewable Portfolio: Milbank advised Mainstream Renewable Power Ltd. and its subsidiaries in the project financing of the 630 MW Huemul portfolio, which is comprised of three onshore wind and two solar PV generation assets. Together, this portfolio with the 571 MW Cóndor portfolio – which Milbank advised Mainstream on the closing of in November 2019 – and the 148.5 MW Copihue Phase – which Milbank advised Mainstream on the closing of in July 2021 – comprise Mainstream’s “Andes Renovables” power generation platform in Chile, which totals $1.8 billion, 1.35 GW of solar and wind assets.
Milbank has one of the largest project, energy and infrastructure groups in the world with over 125 dedicated lawyers in its offices in the Americas, Europe and Asia. In the past five years, the firm has acted as the lead legal advisor in a wide variety of power, energy, oil/gas, natural resources and other infrastructure projects worldwide that mobilized hundreds of billions of dollars of capital. The firm was also recently recognized as “Global Legal Adviser of the Year” and “Latin America International Legal Adviser of the Year” by IJGlobal and “Latin America Legal Advisor of the Year” by Proximo.
