The Arthur Cox Project Finance practice forms part of the firm’s broader Projects Group. Our project finance experience includes transactions financed through syndicated debt; debt capital markets; securitisations; joint ventures; and secondary market sales of equity interests.
Our project finance expertise is complemented by our strength in related practice areas including procurement, construction, regulatory compliance and corporate. With leading banking and financial services practices in Dublin and Belfast, Arthur Cox has the largest Banking and Finance Practice on the island of Ireland and is involved in an extensive range of limited recourse finance projects for a wide variety of clients, both domestic and international. We are consistently at the forefront of the development of project finance and, in particular, the Public Private Partnerships (PPP) and Energy and Resources sectors.
The project finance market in Ireland and Northern Ireland has evolved rapidly from limited recourse property-related transactions to a series of innovative financings in the energy, natural resources, health, justice, education, transport, accommodation and infrastructure sectors. In addition, the Asset Covered Securities Act 2001 has facilitated the growth of covered bonds and securitisation of portfolios of qualifying project finance loans in Ireland. The strength of the firm’s banking and capital markets practices combined with our specialist sectoral expertise across key areas such as construction and employment law has enabled Arthur Cox to build a skilled team of versatile project finance lawyers.
Project finance, by its nature, requires the negotiation and settling of frequently competing financial, legal and commercial issues. Arthur Cox projects lawyers regularly address these issues and have accumulated extensive experience in structuring, negotiating and closing transactions in Ireland, both North and South, and internationally.
We have been at the forefront of project finance developments in Ireland having advised the lenders on the first PPP project in Ireland and acted for the borrower on the first large scale Independent Power Project to be project financed in Ireland. In addition to having structured and closed some of the most innovative project financings completed to date in Ireland and Northern Ireland, our lawyers have also worked in other jurisdictions and have extensive international projects experience in the UK, Australia and Central and Eastern Europe. We act for promoters, equity providers, lenders and borrowers and are the only Irish law firm with specialist project finance capability in both Ireland and Northern Ireland.
Members of our team have extensive expertise in several related disciplines, including:
- Banking and limited non-recourse transactions
- Capital markets/bond financings
- Preparation of tender documentation, bids and proposals to undertake projects
- Evaluation, negotiation and drafting of key project agreements such as concessions, power purchase and engineering, procurement and construction contracts
- Security structures and support packages
- Acting on a dual mandate basis for the Treasury Holdings led consortium as borrower and AIB Plc and DEPFA Bank Plc as joint lead arrangers on the ongoing financing of the National Conference Centre PPP Project, which reached financial close in April 2007.
- Acting for AIB Bank in relation to the provision of €28 million of facilities to Bioverda in connection with its biogas generation business, which reached financial close in June 2006.
- Acting on a dual mandate basis for BBVA as sole lead arranger and Celtic Roads Group as borrower in respect of the €300 million project financing of the Waterford Bypass PPP project, which reached financial close in early 2006.
- Acting for Barclays Bank Plc, the sole arranger in respect of the €90 million project financing of the Cork School of Music PPP project, which reached financial close in September 2005.
- Acting for ANZ Banking Group in relation to the US$100 million financing of a developer of the Seven Heads Gas Field, which reached financial close in June 2003.
- Acting on a dual mandate basis for Societe Genéralé as sole lead arranger and Celtic Roads Group as borrower in respect of the €300 million project financing of the M1 Dundalk Western Bypass PPP project, which reached financial close in 2003.
- Acting for Viridian Group in respect of all aspects of the development and €200 million + project financing of the of 343MW CCGT Huntstown Independent Power Project (the first IPP to be project financed in Ireland), financial close June 2002.
- Acting for Ulster Bank in connection with the funding of the Lisburn Public Library PFI Project.
- Acting for Barclays Bank Plc, the sole arranger in respect of the €100 million project financing of the Schools Bundle PPP project, the first PPP to be project financed in Ireland.
- Acting for Anglo American plc on the €57 million project financing of the largest lead and zinc mine in Europe, based at Lisheen.
- Acting for lenders and borrowers in relation to the financing and refinancing of a number of renewable energy projects, including windfarms, biogas projects and hydro-electric plants.
- On Track - Projects Group Newsletter, Spring 2010
- Construction and Engineering, Education, Health and Justice Infrastructure, Energy and Resources, Health and Safety, Manufacturing and Process Engineering, Maritime and Shipping, Project Finance, Projects, Public Law, Transport, PPP and PFI, Waste Management, Water and Wastewater, Public Procurement
- 07.05.2010 | Format:
