LNG Project Finance
Project financing for a major liquefied natural gas facility.
Build + Finance
Investment requires funding and contracts that support the same commercial plan. We help owners, developers and investors structure financing, construction and operating arrangements for acquisitions, new projects and expansion, connecting capital commitments with delivery obligations and the revenues needed to sustain the business.
We help shape the commercial bargain, negotiate the terms that matter and carry complex transactions through to closing.
Selected Experience | Build + Finance
Power Expansion
Project financing and expansion of gas-fired power plants.
Process-Plant Construction
Construction financing for major cement and fertilizer plants.
Wireless Network
Limited-recourse financing of a nationwide wireless network.
Cement Plant
Financing and contractual work for major cement-production capacity.
Cellular Network
Financing and investment work involving cellular-network infrastructure.
Transaction
Project Finance
We structure project financing around development requirements, revenue arrangements and the risks retained by sponsors. Our work connects the financing documents with the agreements needed to build, operate and earn revenue from the project. We address the allocation of recourse between the project and its sponsors, including support during construction and ramp-up.
Capital + Funding
Senior debt, sponsor equity, shareholder loans and subordinated or mezzanine financing must fit the funding timetable. We address drawdown conditions, cost overruns, completion support and the roles of commercial banks, development institutions and export credit agencies. Project bonds may provide another funding route where appropriate.
Contracts + Completion
Construction, operating, supply and customer agreements must support the financing assumptions. We align completion tests, payment obligations and remedies, including the consequences of delay, underperformance and interruption.
Security + Cash Flow
We address security, direct agreements, lender step-in rights and intercreditor arrangements, together with reserves, distribution restrictions and cash-flow priorities. The structure must also accommodate permitted changes, expansion and refinancing.
Selected Experience | Project Finance
Wireless Network Finance
Limited-recourse financing of a nationwide wireless network.
LNG Project Finance
Project financing of an LNG plant.
Plant Development
Construction financing for major cement and fertilizer plants.
Power Investment
Project financing and expansion of gas-fired power plants.
Agricultural Processing
Financing of a feed-mill and soybean-processing facilities.
Infrastructure Project
Proposed financing of water-desalination and related power facilities.
Relevant Industries
Relevant Lawyers
Phillip RosenblattPartner
Aigul AbishevaSenior Kazakhstan Counsel
Vladimir ShusterSenior International CounselRelevant Insights
Transaction
Engineering + Construction
We structure construction and procurement arrangements to reflect how a project will actually be delivered, whether through turnkey fixed price EPC contracting, construction management or separate works and equipment packages.
Scope + Interfaces
Design responsibilities, site conditions, owner-supplied information and package boundaries must be clear. We address the interfaces among engineers, contractors, equipment suppliers and the owner.
Price + Delivery
We negotiate pricing, payment milestones, variations, schedule relief and delay remedies. Performance security, guarantees and liability allocation must reflect the contract scope and the consequences of failure.
Testing + Handover
Completion and acceptance depend on defined tests and performance standards. We address commissioning, defects, warranties and handover, including spare parts, documentation and the transition to operations. Output, product quality and consumption guarantees connect contractual performance with the project's operating assumptions.
Selected Experience | Engineering + Construction
Plant Development
Turnkey construction of a major cement plant.
Fertilizer Investment
Development and EPC delivery of a major fertilizer plant.
Agricultural Processing
Construction and financing of a feed-mill project.
Digital Infrastructure
Turnkey construction of a national internet backbone.
Plant Development
Equipment-supply arrangements for an operating cement producer.
Market Expansion
Market entry for an international engineering and construction contractor.
Relevant Industries
Relevant Lawyers
Transaction
Acquisition Finance
Acquisition funding must be available when the purchase completes and workable for the business afterward. We align financing commitments with the acquisition agreement, ownership structure and post-closing capital requirements.
Funding + Certainty
Senior facilities, bridge financing, shareholder loans and subordinated or mezzanine debt must support the purchase timetable. We address funding conditions, equity commitments and the coordination of signing, closing and any subsequent refinancing.
Security + Priority
We structure guarantees, security and intercreditor arrangements across the acquisition vehicle and operating group. Existing debt, release requirements and applicable restrictions on guarantees and financial assistance must be addressed in the closing plan.
Operations + Flexibility
Debt service must leave room for working capital, investment and integration. We negotiate covenants, distribution provisions and flexibility for disposals, further acquisitions and changes to the business.
Selected Experience | Acquisition Finance
Wireless Network Finance
Financing of the acquisition and operation of a nationwide wireless network.
Financing
Equity and secured financing of a consumer-products manufacturer.
Market Expansion
Financing associated with an industrial expansion.
Fertilizer Investment
Financing arrangements for a strategic investment in a fertilizer producer.
Telecom Transaction
Cross-border acquisition of a major telecommunications interest.
Acquisition
Multi-jurisdiction acquisition of a major real-estate development.
Relevant Industries
Relevant Lawyers
Phillip RosenblattPartnerVladimir ShusterSenior International CounselAigul AbishevaSenior Kazakhstan CounselRelevant Insights
Transaction
PPP + Concessions
We help investors and developers structure long-term arrangements with public authorities for infrastructure and services. The concession, delivery contracts and financing must allocate responsibilities consistently over the project term.
Rights + Commitments
We address development and operating rights, land access, public-authority undertakings and investment obligations. Bid commitments and consortium arrangements must translate into workable obligations at award and financial close.
Payments + Performance
User charges, availability payments and other payment mechanisms allocate different risks. We negotiate tariff adjustments, service standards, deductions and relief for changes in law or other agreed events, coordinating those provisions with construction and operating contracts.
Change + Handback
Long-term projects must accommodate expansion, refinancing and changes in circumstances. We address lender rights, termination compensation, transfer provisions and the condition in which assets must be handed back.
Selected Experience | PPP + Concessions
Oil + Gas Transaction
Concession over domestic and international gas pipelines.
Privatization
Power privatizations involving hydroelectric concessions.
Port + Storage
Joint venture with a BOT port concessionaire for storage infrastructure.
Infrastructure Project
Proposed BOOT water-desalination and related power project.
Infrastructure Project
Proposed BOT solid-waste collection and processing venture.
Oil + Gas Transaction
Strategic investment in a gas-distribution concessionaire.
Relevant Industries
Relevant Lawyers
Transaction
Operations + Maintenance
Operating arrangements must preserve asset performance and control lifecycle costs. We structure contracts for whole facilities, specialist systems and equipment, with clear responsibilities between the owner, operator and service providers.
Scope + Responsibility
We define operating duties, maintenance scope, staffing and responsibility for consumables and spare parts. Interfaces with construction warranties, equipment suppliers and retained owner functions must be explicit.
Performance + Payment
Availability, output, reliability and service standards must be measurable and appropriate to the asset. We address fees, incentives, deductions and relief events, including the allocation of energy and other operating costs.
Renewal + Transition
Major maintenance, overhauls and replacement obligations must fit the operating and funding plan. We address asset-condition monitoring, records, termination assistance and the transfer of operations to a replacement provider or the owner.
Selected Experience | Operations + Maintenance
Operations + Services
Outsourcing of substantial operator responsibilities for a producing property.
Oil + Gas Transaction
Oilfield-services arrangements across five jurisdictions.
Telecom Transaction
Installation and maintenance of mobile-network infrastructure.
Operating Platform
Hotel management and operational structures.
Operating Platform
Proposed facilities-management joint venture.
Port + Storage
Operating interfaces for port-linked chemical and oil storage.
Relevant Industries
Relevant Lawyers
Transaction
Offtake + Supply
We advise on the agreements that connect production with customers and secure the inputs needed to operate. Our work covers long-term sales, power purchase, feedstock and supply arrangements, including their relationship with project funding.
Product + Volume
Product specifications, quality measurement and volume commitments shape the commercial bargain. We address supply flexibility, take-or-pay obligations and the consequences of shortfalls or rejected deliveries.
Pricing + Payment
Price formulas, indexation, currency exposure and payment support affect both margins and revenue certainty. Prepayments and other funding-linked arrangements introduce additional obligations over the contract term.
Delivery + Continuity
Transport, storage and delivery arrangements connect the contract to physical operations. We address interruption, changes in requirements and the relationship between customer commitments, upstream supply and financing.
Selected Experience | Offtake + Supply
Mining Transaction
Offtake-linked equity and debt structures for mining projects.
Port + Storage
Export financing of commodities for an international trading company.
Port + Storage
Oil-export financing involving a state-owned counterparty.
Financing
Commodity-financing documentation for a trading company.
Port + Storage
Pre-export financing of a polymetallic producer.
Strategic Transaction
Equipment, supply-chain and nominated-subcontractor arrangements for process plants.
Relevant Industries
Relevant Lawyers
Transaction
Structured + Asset-Backed Finance
We structure financing supported by equipment, receivables and other identifiable assets or cash flows. Our work includes asset finance, equipment leasing and securitization, reflecting the distinct ownership, payment and enforcement features of each structure. Receivables purchases, borrowing-base facilities and securitizations involve different relationships between assets, collections and recourse.
Assets + Rights
The quality of the underlying rights is central to the financing. We address ownership, transfers, security and restrictions affecting the assets or receivables, including arrangements spanning different jurisdictions.
Collections + Payment
Servicing, collections and payment priorities connect asset performance with investor returns. We address eligibility criteria, reserves, credit support and the consequences of deterioration in the asset pool.
Use + Recovery
Equipment financing and leasing connect funding with delivery, use and residual value. We address acceptance, maintenance, insurance, return conditions and recovery rights throughout the asset's operating life.
Selected Experience | Structured + Asset-Backed Finance
Receivables Securitization
First securitization of local credit-card receivables.
Aircraft + Engine Finance
Finance lease of aircraft engines to a national airline.
Aircraft + Engine Finance
Aircraft and engine lease arrangements.
Aircraft + Engine Finance
Wet lease of aircraft to a local operator.
Telecom Transaction
Limited-recourse vendor financing for telecommunications infrastructure.
Financing
Subordination of shareholder loans under a secured credit facility.
Relevant Industries
Relevant Lawyers
Transaction
Refinancing + Restructuring
We help owners, investors and borrowers revise financing arrangements as businesses mature, funding needs change or financial pressure develops. Our work covers replacement facilities, amendments and consensual debt restructurings.
Capital + Maturity
Refinancing can support expansion, replace construction debt or address approaching maturities. We coordinate new funding with existing financing facilities and bond obligations, repayment or redemption requirements and security releases.
Creditors + Consents
Different creditor classes bring different priorities and approval requirements. We address covenant changes, waivers, standstill arrangements and intercreditor issues, including the relationship between new money and existing claims.
Continuity + Implementation
Financial changes affect liquidity, distributions and the ability to continue operating. We connect the financing work with asset sales, ownership changes and any required specialist insolvency workstreams.
Selected Experience | Refinancing + Restructuring
Restructuring
Restructuring of the country’s first defaulted international bond.
Restructuring
Restructuring of credit facilities extended by an international institution.
Financing
Subordination of shareholder loans under a secured facility.
Restructuring
Restructuring and partner buyout involving an investment bank.
Restructuring
Review and restructuring analysis for major syndicated financings.
Agricultural Processing
Restructuring of a financed soybean-processing project company.
Relevant Industries
Relevant Lawyers
Relevant Insights
Transaction
Royalty + Streaming
Royalties and streams connect investment returns with a resource asset's production or revenues. We advise on their creation, acquisition and financing, including their interaction with development funding, operating arrangements and existing debt.
Asset + Coverage
The covered properties, minerals and production determine the reach of the arrangement. We address expansions, additional discoveries and changes in ownership or operating structure.
Payments + Deliveries
Royalty calculations and stream deliveries create different commercial obligations. We address revenue definitions, deductions, measurement and reporting, together with ongoing purchase payments and delivery commitments under streams.
Development + Financing
Development progress, operating decisions and competing funding commitments affect the value of the arrangement. We address funding milestones, security and priority, transfer provisions and any agreed buyback or termination rights.
Selected Experience | Royalty + Streaming
Gold Investment
Acquisition of the state interest in a major gold mine.
Mining Partnerships
Creation of a portfolio of gold and silver mining joint ventures.
Gold Project
Structuring and negotiation of a major gold-mining project.
Goldfields Restructuring
Restructuring of a major goldfields project.
Mining Finance
Financing and investment work involving mineral-production assets.
Resource Funding
Structuring capital around production, offtake and future project value.