Milbank LLP was honored as the Loans Law Firm of the Year and the Project Finance Law Firm of the Year at this year’s annual International Financial Law Review (IFLR) Americas Awards ceremony, which was held in New York City on May 16. The firm also received four Deal of the Year awards.
The IFLR Americas Awards celebrate legally innovative deals and teams in the Americas.
Marc Hanrahan, Milbank’s Leveraged Finance Group Leader, said: “Our team is honored to be recognized by IFLR as the leading legal advisor for loan financings. Milbank has been at the forefront of innovation around lending transactions and we plan to continue to build on our reputation for excellence in the years to come.”
Dan Bartfeld, practice leader of Milbank’s Global Project, Energy and Infrastructure Finance Group, added: “These awards are not just a tremendous recognition of our work in the Americas, but a reflection of the strength and depth of Milbank’s expertise handling complex transactional matters that span a number of practice areas.”
Milbank also received the four Deal of the Year recognitions for the firm’s work advising on the following transactions:
- Debt & Equity-Linked: Centrais Eléctricas de Sergipe (CELSE) project bond | Project Finance: Porto de Sergipe I Thermoelectric Complex
A Milbank team advised CELSE on the financing for the Porto de Sergipe I Thermoelectric Complex. The financing of approximately US$1.5 billion is the largest cross-border energy related transaction in Brazil in recent years and the largest LNG-to-Power deal completed to date in Latin America.
- Loans: Carlyle Group and GIC / AkzoNobel Specialty Chemicals financing
A Milbank team represented JPMorgan Chase Bank, N.A., Barclays, JPMorgan, and other debt financing sources in a milestone cross-border €10.1 billion acquisition financing to support Carlyle and GIC’s acquisition of the specialty chemicals business of AkzoNobel N.V.
- Private Equity: Brookfield Business Partners / Westinghouse Electric Company | Restructuring: Westinghouse Electric Company
A Milbank team represented a special committee of independent directors in the US$4.6 billion sale of Westinghouse Electric, a global presence in nuclear technology design and construction whose parent company is Toshiba, to Brookfield Business Partners after Westinghouse filed for chapter 11 bankruptcy protection. Milbank served as dedicated counsel throughout the chapter 11 proceedings.
- Restructuring: Oi Group
A Milbank team represented a committee of export credit agencies, facility agents and investment banks holding approximately US$1 billion of unsecured debt in the restructuring of the Brazilian telecommunications company, Oi S.A. The debt restructuring is the largest insolvency in Brazilian history and largest debt restructuring in Latin America with over $20 billion of debt restructured as part of the transaction.