Project finance

Counsel to Astelit, a Ukrainian telecommunications company, controlled by Turkish GSM operator Turkcell, on a US$540 million financing - the then largest private financing in Ukraine - to expand its mobile network.

We advised on a grant agreement between the Republic of Croatia and the International Bank for Reconstruction and development. This included advising on the project implementation agreement and overall financing structure in connection with a global environment facility trust fund grant for renewable energy projects in Croatia.

Sogefi are a manufacturer of components and filter systems for the automotive industry. We acted for Sogefi in relation to two loans of €40 million in total, which were made by a major bank to finance their research and development programme.

We have advised banks and borrowers in Singapore on project financing for the development of hotel/office/shopping complexes, residential estates, highways, pipelines, petrochemical plants and other industrial developments, and financing for the acquisition of hotels, hospitals, plantations, commercial and industrial buildings and complexes and the takeover of companies, secured against all kinds of assets and guarantees, in jurisdictions such as Australia, China, Hong Kong, India, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, United Kingdom, Vietnam, and others.

We represented Control Risks Group Holdings Ltd on a £28 million loan financing from a major bank to support international operations.

Advising a multilateral agency on its €250 million Western Balkans and Croatia Financing Framework for banks and non-banking financial institutions, including leasing companies.

We advised a multilateral agency on a US$147 million financing for a mining project in Russia.

We acted for Oceanpro Investments Limited as borrower on its US$32 million loan facilities from a major bank. This loan was used for the purpose of indirect acquisition of stakes in an Indonesian coal mining company, PT Kutai Bara Nusantara.

We acted for PT Recapital Advisors in respect of its US$600 million loans from the Singapore branch of a major bank. The loans were taken in connection with the purchase by a Recapital subsidiary of 90% of the shares in PT Berau Coal.

Withers have represented a developer of a biofuels plant in St Petersburg, Russia.

Withers acted for a major Italian bank to finance a design and construction project for a motorway in Croatia.

Enfinity Group is a Belgian based fully integrated project developer, financier, operator and trader of photovoltaic and wind power energy systems. Withers are proud to have represented Enfity Group on all aspects of their photovoltaic projects, particularly in Italy.

We advised a developer on an EPC contract to deliver a waste-to-energy project in London.

AEE Renewables Plc is a German-based integrated project developer of photovoltaic and hydro power energy systems. Withers has represented AEE Renewables on all aspects of the feasibility, development and implementation of its photovoltaic projects in Germany, UK and Turkey.

We acted for a syndicate of Italian banks, including a major European bank, to finance a project in Romania.

We have advised Indian Public Sector Banks on guarantees in the aggregate amount of £370 million issued by three major banks in favour of EIB. This was in relation to a loan made by EIB to Land Rover for R&D in emissions reduction.

Withers has represented Master Chem Oil Ltd on a range of projects including the financing and development of an oil receiving terminal in the Black Sea, Romania, along with general advice on the company's financing arrangements.

Withers have represented a multilateral agency as lead international counsel on €50 million worth of sustainable energy projects. This representation included the securing of loans to companies in Albania, Serbia, Kosovo, Bosnia, Macedonia and Croatia for the development of hydro power plants, a biomass plant, and to support energy efficiency improvements.

Withers have represented AEE Renewables Plc on the recent sale of four of its UK solar projects to publicly traded venture capital funds, and joint ventures with the land owners and other project participants.

We represented the IFC, FMO and DEG on an $85 million financing package for the construction of a marine oil receiving terminal, and a petrol distribution network in Turkey.

We advised on the purchase of a £15 million estate comprising diverse assets including a private water supply.

We advised EBRD in connection with a €70 million project loan for an industrial gas facility in Russia.

We acted for a syndicate of Italian banks for a €94 million ECU project in Romania involving European Investment Bank.

We advised AES Corporation, Aquila and El Paso on various power projects, including project company acquisitions and disposals in the UK, eastern Europe and Africa on the following projects: Aquila in connection with its $2.1 billion acquisition of Midland Electricity plc; and El Paso on the disposal of its minority interest in the Kladno power project in the Czech Republic and its exit from a power project in Fife, Scotland.

We advised CIT as senior agent to existing lenders to the Cross Israel Highway on a USD$200 million extension by Derech Eretz Highways Ltd acting through a wholly owned subsidiary and funded by local Israeli lenders led by Bank Hapoalim.

We represented Clipper Windpower in connection with Turbine Supply arrangements with Crown Estates for an offshore UK wind farm.

We advised Connective Energy Limited, a venture between Tridios Renewables, Mitsui Babcock and the Carbon Trust, on various UK heat solutions. This included heat supply agreements and industrial gas supply agreements.

We represented EBRD on an $87 million loan to KEGOC to expand an electricity transmission line in Kazakhstan.

We represented First Corporate Shipping Limited on a financing of construction at the Bristol Port in the UK led by BHF Bank, and also in connection with facilities construction finance by users of Bristol Port.

We represented a group of UK landowners on fuel supply arrangements for wood fuelled bio generator projects in the UK.

We advised HBOR, the Croatian Development Bank, in connection with a loan to a local biomass project.

We advised IFC on a $90 million telecoms project financing in the Dominican Republic.

We advised on a grant agreement between the Republic of Croatia and the International Bank for Reconstruction and Development. This included advising on the project implementation agreement and overall financing structure in connection with a global environment facility trust fund grant for renewable energy projects in Croatia.

We advised a main London Stock Exchange quoted Kazakh Company on issues arising in connection with a Luxembourg listed USD$200 million convertible bond issue and mandatory convertible bond.

We acted for certain of the local sponsors of the Macauport project in connection with shareholders' issues, port and waterways regulatory issues, as well as facilities and equipment sharing arrangements with other shareholders.

We acted as counsel to Metaltech plc on disposals of its international steel businesses and financing arrangements with secured creditors.

The Newlat Group is one of the top ten players in the Italian food sector, with a turnover exceeding US$355 million. Its business is focused on milk and wheat-based products, with an existing base of 11 production plants. We advised Newlat on the acquisition of Kraft Heinz’s Italian infant food and nutraceuticals production plant. The Parma plant owned by US food giant Kraft Heinz, produces the well-known Plasmon biscuits as well as pasta, liquid milk, dry milk and cereals, among other products. The deal included an arrangement for Newlat to manufacture infant milks and nutrition products including Kraft Heinz owned products.

We acted for a major Indian bank in financing a steel galvanising plant in Nigeria.

We acted for Progress-foreign trade firm of the Ukrainian Government in a USD$500 million export project.

We advised Wendon Renewables Limited, a UK developer, on an investment in a UK biomass project.

We advised a landowner on the lease of a UK site for the development of a windfarm consisting of 18 turbines.

We advised on the reorganisation of Soho House's casual dining business - brands, Pizza East, Chicken Shop, Dirty Burger - worth about £40 million - into a joint venture in order to facilitate financed roll out of outlets internationally at an ambitious rate.

We advised Syracuse University (USA) on its London Program which involved the acquisition of premises for use for educational purposes; employment advice in relation to urgent dismissal for gross misconduct; governance arrangements, including appointment of an interim director and new trustees; conflicts of interest in connection with the Programme's relationship with the University; advice and assistance in relation to sub-licenses for occupation of premises by other educational organisations, including in relation to real estate matters and tax treatment of revenues. The work represents a mature study abroad programme operating in the UK and in Europe, raising a variety of operational issues.

We advised TASI Holdings on the acquisition of business in a US tech company that produces long-range wireless sensor networks, used primarily in the oil and gas industry. This is TASI's fifth acquisition since 2011. TASI provides advanced test and inspection instrumentation & systems, flowmeters and flow control products, measurement instrumentation and automated assembly and test systems around the globe in a variety of sectors including: automotive, life science, oil & gas and food & beverage.

Via della Spiga 26 is a beautiful building in the 'golden triangle' of Milan, housing Dolce & Gabbana's flagship store as well as the offices of Tiffany & Co. We helped Thor Equities and Invesco to acquire the site, negotiating with a family who had held the property for generations and were initially locked in dispute between themselves. Our clients and the vendors were grateful for our help in brokering what had seemed an impossible deal.