- The U.S. International Development Finance Corporation in connection with a term loan of up to US$125 million to a private equity fund, with investments to be made in Indian companies or companies with a significant presence in or exposure to India.
U.S. Private-Public Partnerships
- Bridging Pennsylvania Developer I, a consortium of Macquarie and Shikun & Binui, as sponsors counsel for PennDOT’s Pathways Major Bridge P3 initiative, including the design, build, finance and maintenance of six bridges in critical need of replacement across the Commonwealth. The project is the first transportation-related P3 to close utilizing a pre-development agreement (PDA) structure. Financial close was reached December 2022.
- Transurban in connection with the design, construction, financing, operation and maintenance of a significant extension to the Capital Beltway HOT Lanes project, including a refinancing of existing debt, in Virginia, financed by tax-exempt private activity bonds, TIFIA funding and VTIB funding.
- A shortlisted bidder in connection with Phase 1 of the I-495 and 1-270 P3 by Maryland Department of Transportation and Maryland Transportation Authority.
- The sponsors in connection with the refinancing of the private activity bonds for the Denver FasTracks Project.
- Meridiam Infrastructure North America and NORESCO as co-sponsors in the P3 concession to design, build, finance and maintain the energy systems serving the Fresno State campus at California State University, including upgrading of the conventional electricity facilities, developing a solar facility and energy conservation measures. It represents the first P3 higher education energy transaction financed with Green Bonds.
- Transurban in connection with the design, construction, financing, operation and maintenance of a significant extension to the I-95 HOV/HOT Lanes project in Virginia, financed by tax-exempt private activity bonds (Bond Buyer 2019 Deal of the Year – Public-Private Partnership Financing).
- The financing parties in providing a private placement in connection with the utilities concession at Duquesne University of the Holy Spirit in Pennsylvania.
- Macquarie Capital, Fengate and Veolia in connection with their bid to acquire The Ohio State University energy systems, which representation included negotiation and documentation of bridge bank facility and 4(a)(2) private placement notes.
- The Port Authority of New York & New Jersey in the redevelopment of the Hudson River underwater rail crossings and associated infrastructure currently in the preliminary stages of development and financing, including possible RRIF/TIFIA funding, and in the redevelopment of JFK International Airport and associated infrastructure.
- The New York State Urban Development Corporation d/b/a Empire State Development as financing counsel in connection with the redevelopment of the James A. Farley Post Office Building and Annex as the Moynihan Train Station, including TIFIA funding.
- The sponsors in connection with the design, construction, finance, operation and maintenance of the US$2 billion Purple Line light rail project in Maryland, financed in part by tax-exempt private activity bonds and by a TIFIA Loan (P3 Awards 2016 Best Transport and Aviation Project; IJ Global 2016 North America Rail Deal of the Year).
- The developer/operator as bond counsel in connection with KentuckyWired, a high-speed, open access fiber optic network across the Commonwealth of Kentucky. Orrick structured a market setting innovative solution and the project closed with tax-exempt financing (Bond Buyer 2015 Deal of the Year; Council of Development Finance Agencies 2015 Excellence in Development Finance Project Award).
- Consortiums in connection with their bids to design, construct and finance a bridge replacement project and a managed lanes project, respectively, in Texas, both financings structured as a true sale.
- The sponsors for the development, construction and financing of the I-95 HOV/HOT Lanes project in Virginia, financed in part by tax-exempt private activity bonds.
- The sponsors for the development, construction and financing of the Capital Beltway HOT Lanes project in Virginia, involving the largest private equity investment to date in a U.S. greenfield toll road project and the first use of tax-exempt private activity bond financing for a transportation facility under authorization granted by the 2006 federal transportation act (Project Finance Magazine 2008 “Americas’ Overall Project Finance Deal of the Year” and 2008 “North American Bond Deal of the Year;” Infrastructure Journal 2008 “Transportation Deal of the Year;” and The Bond Buyer 2008 “Non-Traditional Deal of the Year”).
- The sponsors for a concession granted by the Regional Transportation District for the construction, financing and operation of a commuter rail network in the Denver, Colorado metropolitan area. The project was financed in part by tax-exempt private activity bonds.
- The sponsors for the Downtown Tunnel/Midtown Tunnel/Martin Luther King Freeway Extension Project in Virginia, financed in part by tax-exempt private activity bonds and by a TIFIA Loan (PFM 2012 North American Toll Road Deal of the Year).
- The lenders in providing a construction loan to the Presidio Parkway project.
- Intersect Power in the US$1.4 billion holdco financing for a portfolio of 2.3 GWdc of late-stage solar projects with 1.8 GWh of storage in California and Texas. Named Americas ESG Deal of the Year by Project Finance International, North American Solar Deal of the Year by Proximo and Deal of the Year by Energy Risk Awards.
- Wellhead Energy and its affiliates in the construction and term loan financing of, and a letter of credit facility for, a 99.3 MW hybrid gas-fired/energy storage plant located in California.
- The financing parties in providing financing for an investor acquiring a portfolio of toll bridges and roads in Alabama and Michigan.
- The sponsor in connection with the financing of a US$1.8 billion nitrogen fertilizer plant in Iowa.
- An investor in its US$5.72 billion acquisition of the concessionaire operating and maintaining the Indiana Toll Road (Project Finance International 2015 Americas Transport Deal of the Year; The M&A Advisor 2015 Distressed Deal of the Year (Over $1B) and M&A Deal of the Year (Over $5B)).
- The lender in providing a development bridge financing for Freeport LNG in connection with its export LNG liquefaction facility in Texas.