December 22, 2011
In a display of the firm’s strengths across markets and industry sectors, Latham & Watkins has been cited by Project Finance International for advising on three matters recognized as “Deals of the Year” for 2011 — including the financings of a petrochemical manufacturing facility in Singapore, a coal-fired power plant in Vietnam and a gas-fired power plant in California.
The Singapore project named “Asia-Pacific Petrochemical Deal of the Year” is a US$2.3 billion condensate splitter and aromatics facility located on Jurong Island, with Latham attorneys advising the borrower in the financing ofUS $1.45 billion in debt.
The Vietnam power project, the 1,240 megawatt Mong Duong 2 plant, involved Latham advising the lenders on a US$1.4 billion 18-year debt facility to finance the largest electric power project in the country to date. It was named “Asia-Pacific Power Deal of the Year.”
Latham attorneys also advised the borrower and sponsors in the US$796 million financing of the CPV Sentinel power plant in Riverside County, California, named “Americas Power Deal of the Year,” which will supply electric power to the Cochella Valley and Los Angeles basin under a long-term power purchase agreement with Southern California Edison.