Structured and Project Finance

For more information
contact Gregg Harris.

With locations worldwide, including locations in many of the world’s financial and energy centers, Fulbright’s Structured and Project Finance Group is well-positioned to offer our clients fully-integrated legal representation on a wide range of domestic and international projects and transactions. Our extensive experience includes representing entities in many different roles, including multilateral and other lenders, sponsors, developers, institutional investors, contractors and operators in all areas relating to structured and project financing.

Most secured financing transactions and restructurings involve a broad range of issues requiring experience in many areas of law. In response to these complexities, and to provide effective representation to our clients, Fulbright is able to draw on its vast pool of legal experience in related fields of practice, including energy, arbitration and dispute resolution, international, corporate, environmental, public finance, real estate, equipment finance, bankruptcy and tax.

Full Range of Services: From Project Conception to Project Completion and Beyond

Fulbright lawyers have significant experience in helping clients navigate the complexities on each phase of a transaction, including:

• Preliminary evaluation and due diligence
• Interfacing with local counsel and host country negotiations
• Drafting, reviewing and negotiating project documents, term sheets, financing agreements and security documents
• Overseeing the disbursement process, including satisfaction of conditions of disbursement
• Advising during operational period

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We have assisted clients with structuring and documenting numerous types of financings, including non-recourse and limited-recourse debt, bonds, equity, quasi-equity, mezzanine debt and numerous combinations and variations on the foregoing, together with various forms of credit support. In addition, Fulbright lawyers have extensive experience in debt restructurings — both inside and outside of bankruptcy.

Fulbright’s strong commitment to providing superior client service is reflected in the way we selectively and efficiently staff our projects. At the core of this client-focused staffing is the belief in cultivating project teams that develop an in-depth understanding of our clients, their industries and their individual projects. Fulbright’s success in its top-down approach to client service is apparent as recipient of the Client Choice Award, recognizing Fulbright as the top law firm for client service in the United States. Nominated by Fortune 1000 companies around the world, this award is given by the International Law Office, the official online media partner to the International Bar Association (IBA) and an international media partner to the Association of Corporate Counsel.

In Step with Our Clients, On Top of the Trends

Fulbright lawyers remain at the forefront of global project trends in both established and emerging markets. We are able to assist our clients in assessing and managing the many variables that can affect the outcome of a project, including the political, social, legal and other risks that are inherent in complex, large-scale projects and cross-border transactions. Additionally, our lawyers are well-versed in the developing technologies and industry trends that shape the development and execution of a project.

International Presence and Experience

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The members of Fulbright’s Structured and Project Finance Practice Group have a wealth of experience assisting clients with international investments. Our intimate knowledge of typical local law issues, international jurisdictions, governments and industries allows us to assist our clients in structuring and financing projects. There are members of the Structured and Project Finance Practice Group located in each of our overseas locations. In addition to these lawyers, Fulbright has cultivated relationships with law firms and lawyers in most of the countries where our clients have typically pursued projects. Working closely with host-country lawyers, we help clients manage the inherent financial, political and legal risks associated with non-recourse and limited-recourse international projects.

Fulbright has significant experience representing clients in many of the most active regions for project development and finance, including Latin America, Asia, Eastern Europe, Africa and the Middle East. In many regions of the world, such as India, Pakistan, Sub-Saharan Africa and Latin America, our firm has the experience and track record in structured and project finance that is second to none.

Fulbright also has been successful in tying our various location together, both through technology and the development of strong working relationships among our lawyers, in order to maximize the firm’s ability to efficiently and effectively service our global client base. Fulbright has thirteen locations, including five strategically-placed international locations in London, Hong Kong, Munich, Dubai, Riyadh and Beijing. From currency controls, to international tax issues, to individual government regulations, our lawyers have the knowledge and linguistic capabilities to devise and implement creative, effective and cost-efficient solutions on behalf of our international clients.

Commitment to Client Service

Fulbright’s strong commitment to providing superior client service is reflected in the way we selectively and efficiently staff our projects. At the core of this client-focused staffing is the belief in cultivating project teams that develop an in-depth understanding of our clients, their industries and their individual projects. Fulbright’s success in its top-down approach to client service is apparent as recipient of the Client Choice Award, recognizing Fulbright as the top law firm for client service in the United States. Nominated by Fortune 1000 companies around the world, this award is given by the International Law Office, the official online media partner to the International Bar Association (IBA) and an international media partner to the Association of Corporate Counsel.

Project Experience

Lawyers in the Structured and Project Finance Practice Group have represented clients in connection with numerous types of project and asset financing, including:

Managing Project Risk

One of the more significant values that our lawyers’ experience brings to a transaction is an understanding of the issues that confront lenders, governments, sponsors, investors and end-users when planning, financing and constructing non-recourse and limited-recourse projects. Fulbright’s experience with projects all over the globe has given us insight into effective means of managing many types of project risks, including, for example:

• Current or potential restrictions on currency exchange and repatriation
• Local law limitations to the achievement of perfected security interests
• Gaps in insurance coverages and risks associated with natural and political force majeure events
• Difficulties enforcing foreign judgments and arbitral awards in host countries

The breadth of our experience allows us to effectively advise clients on the best means to structure and negotiate project, sovereign, finance and security agreements in order to maximize our clients’ interests, as well as to develop and implement strategies to address various project risks, including such strategies as hedging arrangements, credit support and political risk insurance coverage.

Because a typical project finance transaction will involve numerous major actors (host governments, multilateral lenders, commercial lenders, sponsors, construction companies, suppliers, local utilities, etc.) and involve various contracts involving the laws of different jurisdictions (often New York, English and host country law, among others), sometimes in several different languages, it is essential that legal representation be capable of addressing all these issues simultaneously and frequently under tight deadlines. Fulbright's experience allows us to accurately assess and anticipate the staffing needs of each project, allowing us to effectively and efficiently utilize Fulbright’s vast resources in a cost effective manner.

For further information or questions about Fulbright's structured and project finance practice, please contact Gregg Harris.

Awards

• The 2010 edition of the IFLR1000 – Euromoney’s Guide to the World’s Leading Financial Law Firms lists Fulbright as a leading firm in Project Finance in North America, Latin America and Asia-Pacific.
• The 2010 and 2009 Chambers Latin America ranked Fulbright in Projects Latin America-wide and in International Arbitration Latin America-wide. Chambers and Partners, 2009, 2010 
• Fulbright was honored with the Americas Infrastructure Deal of the Year by Project Finance International 2009 and Latin American Transport Deal of the Year by Project Finance Magazine for its work on the Sao Paulo Metro Line 4 Expansion public-private partnership concession in Brazil. 2009
• The 2009 Chambers Global Guide ranked Fulbright as one of the leading firms in projects and energy in the Middle East, North America and Asia Pacific. Chambers and Partners
• Infrastructure Journal named Fulbright as a leading project finance firm in four categories, including Top Defense PPP Legal Advisers, Top Defense Legal Advisors, Top Eastern Europe Legal Advisors and Top Subcontinent Legal Advisors. Infrastructure Journal, 2008
• The 2008 Europe, Middle East, Africa Legal 500 Guide recognized Fulbright for its work in projects and energy in the Middle East. Europe, Middle East, Africa Legal 500 Guide, 2008
• The 2008 Asia Pacific Legal 500 Guide recognized Fulbright for its work in projects and energy in Hong Kong. Asia Pacific Legal 500 Guide, 2008

When You Think STRUCTURED AND PROJECT FINANCE, Think Fulbright.™