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Financiamento de Projetos (Project Finance) e Infraestrutura
Nossos advogados que trabalham na área de financiamento de projetos encontram soluções práticas para questões diversas apresentadas por nossos clientes. Entendemos as pressões e obstáculos encontrados na estruturação e financiamento de projetos complexos, possuindo vasta experiência em diversos setores. Nossos advogados já representaram todas as partes envolvidas em operações desta natureza – tanto os patrocinadores do projeto, quanto credores, fornecedores de equipamento, fundos de investimento em infraestrutura, seguradores, entidades públicas e agências de rating – em projetos em todo o mundo. Adicionalmente, temos em mente que o financiamento de um projeto perde o seu objetivo principal quando a estruturação rigorosa inerente ao projeto não permite que, ao mesmo tempo, o projeto seja flexível para acomodar necessidades operacionais do negócio.
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Dec 14, 2007
Cleary Gottlieb represented Tatneft, Russia’s sixth largest oil producer, and its affiliate Taneco in a $2 billion senior secured facility from BNP Paribas to finance the construction of the first phase of a new oil refinery in Tatarstan. The facility was signed in November. Cleary Gottlieb also represented Bank Zenit in a related $350 million letter of credit to fund the purchase of supplies and services for the project.
The new refinery is the largest under construction today in Russia. By refining Tatneft’s high-sulfur "sour" crude, the refinery will pump higher-quality "sweet" crude into the national pipeline system and help reduce Russian crude's pricing discount off international oil pricing while also increasing light products export. The Russian government is also providing $660 million in financing for the refinery, which is considered a project of national strategic importance.
Feb 22, 2007
Cleary Gottlieb is representing ArcelorMittal in connection with an integrated mining, infrastructure and industrial project in Senegal, West Africa. This landmark project was signed in Dakar on February 22.
This signing concludes a two-year negotiation process, during which ArcelorMittal faced strong competition from other international mining groups. The project documentation provides for the mining of an estimated 750 million metric tons of rich iron ore reserves in southeastern Senegal, which will require the construction of a mineral port and railroads across the country. In addition, ArcelorMittal will set up a steel-processing facility to meet the demand of the West African market. The exceptional size and complexity of the project called for a tailor-made set of investment and tax and customs incentives combining advantages drawn from the country’s mining code, the investment code and the offshore company law. The closing of the transaction, which will require, among other things, a ratification law, is expected to occur in several weeks.
Feb 22, 2006
Cleary Gottlieb represented long-standing client Corporación Nacional del Cobre de Chile (Codelco), the largest copper producer in the world and a state-owned company of Chile, in its joint venture with China Minmetals Non-Ferrous Metals Co., Ltd. (Minmetals), a state-owned company of China. The transaction is believed to be the first of this nature between Latin American and Chinese companies. The parties entered into definitive documentation in a signing ceremony in the Hall of the People in Beijing on February 22, 2006.
The transaction represents an innovative financing structure for Codelco, in which the company receives a $550 million up-front payment in exchange for agreeing to supply the joint venture with 55,750 tons of copper cathodes per year for fifteen years. Upon delivery of the copper cathodes, Codelco will receive a price balance per ton adjusted for certain changes in inflation and market prices for copper cathodes. In exchange, Minmetals receives a supply of copper cathodes from the joint venture at market prices for fifteen years.
Debt financing is being provided by China Development Bank, the state-owned development bank of China. The debt financing is structured as a project finance without recourse to Codelco. The purchase of the copper supply contract from Codelco is being financed with equity contributions from Codelco and Minmetals of $110 million each and debt financing of $330 million from China Development Bank.
Dec 11, 2006
Cleary Gottlieb represented a wholly-owned subsidiary of AIG Global Investment Group (AIGGIG) in connection with its successful bid for the acquisition of P&O Ports North America, Inc. (POPNA). The acquisition was announced on December 11, and is subject to regulatory approval and other customary closing conditions. Closing is expected to occur in the first quarter of 2007.
POPNA’s operations consist of marine terminal concessions in the ports of New York/New Jersey, Philadelphia, Baltimore, Miami, Tampa and New Orleans, stevedoring operations in 16 locations along the East and Gulf Coasts and a passenger ship terminal in New York City.
Latin American Oil & Gas Deal of the Year
(Camisea Pipeline Project Financing)
Project Finance (2005)
European Manufacturing Project Finance Deal of the Year
(Zellstoff Stendal Pulpmill)
Project Finance (2002)
“Cleary Gottlieb’s star in the projects, energy and natural resources firmament burns bright across Latin America, and [clients] pointed to its superb capability in oil and gas, petrochemical, steel, mining and toll road financings.”
Chambers Global (2008)
“Clients’ unswerving admiration for the quality of this firm is striking: ‘What separates Cleary from others is their commitment to excellence ... they really do give you more than you ask for and it’s the key to their success.’”
Chambers USA (2008)
“With ‘a strong team spirit and great communication skills,’ this firm is further recommended by clients due to its ‘commitment, sense of responsibility, quality of work and timeliness.’”
Chambers Europe (2008)
“The New York-based unit takes on some of the most ground-breaking and multifaceted transactions in South America.”
Chambers Global (2007)
“The team has a reputation for innovation: ‘Cleary is more creative on the commercial side - it isn’t stymied by different rules and regulations,' reported clients.”
Chambers USA (2007)
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