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

• Advising an electricity generator in the Slovak Republic on various aspects of its approximately US$1 billion privatization, which included disposal of power generating and nuclear decommissioning assets, negotiations with institutional lenders and corporate governance. The three debt financing deals involved in this matter are believed to be the largest corporate debt ever completed in that country.
• Serving as bond counsel in connection with the issuance by Miami-Dade County (Florida) of its US$186.4 million Transit System Sales Surtax Revenue Bonds to finance transportation and transit projects in the county.
• 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 bond counsel to Western Reserve Port Authority for the development of a privately-owned rail-served landfill (to receive municipal solid waste and construction and demolition debris) to be located in Mahoning County, Ohio.
• Serving as bond counsel to the District of Columbia on the financing of the new baseball stadium for the Washington Nationals. The bonds included both taxable and tax exempt issues aggregating US$534.8 million. The overall cost of the project, including renovation of the existing RFK Stadium, is estimated at US$631 million.
• 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.
• Serving as bond counsel to the Water Infrastructure Finance Authority of Arizona in connection with the issuance of its US$205.4 million Water Quality Revenue Bonds. Proceeds of the bonds will be used to fund loans by the authority to finance water quality projects throughout Arizona.
• Serving as bond and disclosure counsel to the Arizona Sports and Tourism Authority in connection with its issuance of US$90 million in Senior Revenue Refunding Bonds (Multipurpose Stadium Facility Project) to refinance stadium improvements.