Project & Infrastructure Finance

Around the world, Squire Sanders lawyers have worked closely with clients on large projects requiring extensive experience in structuring and negotiating project financing, including analyzing, preparing, and negotiating all related documentation, including commitment letters, loan agreements, security documentation, trust agreements, and other finance-related documentation. We have experience working with the leading financial advisors, commercial banks, investment banks, export credit agencies, and multilateral financial institutions and bring that to bear when serving as legal counsel.

Squire Sanders lawyers have assisted private entities and governmental bodies in planning, financing, and implementing infrastructure projects including airports, ports, railways, roadways and mass transit systems, communications, health care, education and privatization. Our lawyers have also been involved in project financing aspects of energy projects, professional sports stadiums, museums, urban development projects, waterfront development and marina projects, port projects, housing projects, manufacturing facilities and mixed use entertainment/retail facilities.

Practice Expertise

• Airports & Transportation
• Energy
• Hotels & Convention Centers
• Infrastructure Finance
• Sports & Leisure Facilities

Representative Experience

• Serving as underwriters’ counsel in connection with the issuance and sale by the Miami-Dade County Expressway Authority of US$304.3 million of the authority's Toll System Revenue Bonds.
• Serving as swap counsel for Bradley International Airport (state of Connecticut) in connection with the execution of a long-dated forward delivery interest rate swap that allowed the state to lock in interest rate savings for bonds that cannot be refunded until 2011.
• Counseling in all the legal issues related to the development by AES of a 300 MW natural gas-fired generation facility and LNG importation and distribution terminal. This representation included legal assistance in: (i) negotiation and drafting of the real estate purchase agreement for the site; (ii) negotiation of the generation concession and obtaining all permits required for development and operation of the facility; (iii) negotiation and drafting of all EPC agreements with the different contractors; (iv) securing of all easements and rights of way required for construction of the transmission lines interconnecting the generation facility with the national transmission grid, as well as for development of the natural gas pipeline that brings gas from the importation terminal to another generation facility in Santo Domingo; and (v) financing of the project with international lenders.
• Advising EBRD/Galnaftogaz in its US$25 million loan to a Ukrainian oil refining company for the purpose of expanding its filling station network.
• Representing the owner of the Phoenix Coyotes National Hockey League team in negotiations with the city of Glendale, Arizona for the development, financing, construction, leasing and operation of a new 17,500-seat multipurpose sports and entertainment center and the surrounding 225-acre site. We negotiated and drafted the arena development agreement on behalf of the developer; the arena management, use and lease agreement on behalf of the team and arena manager; and the mixed use development agreement on behalf of the developers of the 3 million to 5 million sq. ft. of commercial, retail and residential projects surrounding the arena. The total development cost for these projects was projected as more than US$750 million. The city of Glendale agreed to contribute US$180 million to the arena project.
• Serving as underwriters' counsel in connection with the issuance and sale of US$211.7 million of certificates of participation to finance a portion of the cost of design and construction of a new psychiatric hospital on the campus of St. Elizabeth's Hospital in the District of Columbia and of acquisition and renovation of an existing building to house the headquarters and a full-service location of the District's Department of Motor Vehicles.
• Serving as bond counsel to Broward County, Florida in connection with its issuance of US$176.8 million of bonds, in tax exempt and taxable series, to refinance bonds initially issued to pay the cost of construction of a sports and entertainment arena that is the home of the Florida Panthers.
• Serving as underwriters' counsel to an investment bank on a US$337 million bond issue for a new sports and entertainment arena in Louisville, Kentucky. The project, with a total value of US$447 million, includes 717,000 square feet of new construction. The seven-story arena will have a 22,000 seat capacity for basketball, and a capacity of between 16,000 and 17,500 for concerts and entertainment events.
• Advising an international real property investment firm on the acquisition of land and buildings and transactions relating to further development for various types of projects including hotel, residential, office space and conference centers.
• Advising sponsor in connection with the development and construction finance of an ethanol biorefinery in Ohio.