Background - Practices (Details)
Finance
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Crowell & Moring has considerable experience in financings of energy and other infrastructure projects. This includes development stage financing, non-recourse project financing (of single projects as well as project portfolios), lease financings and back-leverage transactions. Transactions have involved numerous sources of capital: commercial banks, institutional lenders (including term loan B transactions), private equity, tax equity, and taxable and tax-exempt capital market offerings.

Our clients have included project sponsors, commercial and institutional lenders and underwriters in projects financed in the capital markets, and on their behalf we have been involved in the financing of a broad spectrum of projects, including power (natural gas, oil, solar, wind, biomass), LNG, pipelines, desalination, and wastewater treatment.

Representative Engagements:

  • Constellation NewEnergy in a $100 million project financing for a 30 MW solar generating facility in California.
  • A major independent power developer in a $725 million financing of a portfolio of several gas-fired facilities located in the U.S. and Canada. Financing included a term loan B senior loan, subordinated debt, working capital, letter of credit and bridge loan facilities.
  • Irving Oil in connection with development, joint-venture negotiations and subsequent project financing of the $760 million LNG facility in Canada that was named North American Mid-Stream Oil and Gas “Deal of the Year.”
  • Poseidon Water in connection with the $1 billion financing of the Carlsbad, California desalination project. The project was named “Deal of the Year” by Project Finance magazine.
  • Trident Global Water Partners in connection with a dual-currency (US$, JP¥) refinancing of a portfolio of Mexican wastewater treatment projects (named a “Deal of the Year” by Project Finance magazine).