![Milbank LLP [Katie Hicks]](https://www.milbank.com/a/web/uogfvSokvYvezzTpx6SAR9/aAyNf1/1-13262_pho_katie-hicks-headshots_option_2.jpg "Milbank LLP [Katie Hicks]")
Milbank LLP's work on Naturion's inaugural financing has been named “ESG Agribusiness Deal of the Year” and “ESG Nature Finance Deal of the Year” at the Infra Global ESG Awards 2026. The awards celebrate leading organizations in the infrastructure and energy sectors for delivering innovative and impactful ESG-related transactions.
Milbank advised the lenders to Naturion on the financing of the development and expansion of wetland and stream mitigation banks across the United States. Naturion is a leading mitigation banking platform that develops and operates environmental infrastructure projects, restoring degraded wetlands and streams and generating compensatory credits for infrastructure developers.
The transaction featured the first known institutional delayed-draw term facility for a United States mitigation banking platform and included an embedded accordion mechanism to support future growth.
The Milbank team was led by Infrastructure Finance partners Katie Hicks and Jonathan Toffolo, and associates Rhodri Lewis, Katharine Ward, Hattie Jones and Farvah Javaid.
