Project Finance Honors Two Haynes and Boone Deals as Deals of the Year


Two transactions led by Haynes and Boone, LLP lawyers have been selected as 2012 Deals of the Year by Project Finance magazine. The magazine featured the firm’s Tarahumara Pipeline transaction as the Latin America Midstream Deal of the Year and its work with the Panda Power Funds financings of Texas power plants as the North American Merchant Power Deal of the Year.

Led by Haynes and Boone Mexico City Partner Antonio Franck, the firm’s team represented Tarahumara Pipeline, R.L. de C.V, a subsidiary of Grupo Fermaca, which was selected the winning bid in a public auction by the Mexican Federal Electricity Commission to build and operate the natural gas pipeline for the northern region of Mexico. The pipeline will be 380 kilometers in length and cost more than US $440 million to build. The firm’s transaction team included Mexico City Partner Jorge Labastida and associates Cesar Ramirez, Ximena Vazquez and Delia Silva Ortega.

Additionally, the publication highlighted the Panda Power Funds deals (Temple and Sherman). The deal team from Haynes and Boone was coordinated by Gil Porter, co-chair of the Haynes and Boone’s Projects Practice Group, and included Of Counsel Steve Wilson, Associate Austin Elam and partners Jan Sharry, Diana Liebmann, Mary Mendoza, Sue Murphy and Jeff Nichols.

The Haynes and Boone deal team advised Panda Power Funds on all Texas law and project development matters essential to the successful completion of the project financing for the natural gas-fired power plants in Temple and Sherman, Texas – two separate financings that closed months apart.

The Temple power plant will eventually supply power to 750,000 homes in central and north Texas with commercial operations targeted by 2014, while the Sherman facility is expected to supply the power needs of about 750,000 homes and should infuse an estimated $1,700,000,000 into the area's economy during the facility’s first 10 years of operation.

The Project Finance awards recognize deals for innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects, large or small. Winners were selected based on a vigorous weighting system based on various categories and announced at an awards dinner in New York on March 7.

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