Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 07-04-2015 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | Chubu Electric Power - Carroll County Energy Project, Ohio | Industry: | Electricity |
| Description: |
Milbank, Tweed, Hadley and McCloy LLP advised Japan-based electricity utility Chubu Electric Power Co., Inc. in its acquisition of an interest in a 700 megawatt electricity generating plant to be constructed in northeastern Ohio.
Milbank partners Aled Davies out of Milbank's Tokyo office and John Franchini out of Milbank's New York office, and Senior Associates Daniel Lin (Tokyo) and John Timmermann (New York), led the deal team on behalf of Chubu Electric, which, together with TIAA-CREF, Ullico Inc., and Prudential Capital, have committed to contribute USD411 million in equity to the project.
In addition to the equity commitments, BNP Paribas, Credit Agricole Corporate and Investment Bank, and a syndicate of eight other commercial banks agreed to provide USD488 million in senior secured credit facilities to finance construction of the facility.
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| Financial Center: | Tokyo | Value: | 500.01-1000.00 |
| Advised Party: | Equity Sponsor | Law Firm | Milbank |
| Project Location | United States | Equity Sponsor | Japan |
| Classification: |
Project Finance Power |
Lawyer | Aled Davies |
