January 12, 2021
Latham & Watkins advised on four transactions that were recognized by IJInvestor with multiple awards in their annual contest which honors “the best institutions, asset management and fundraising in energy and infrastructure.” The publication honors the most innovative matters in the space reflecting where the market is heading.
IJInvestor celebrated the firm’s Energy and Infrastructure Industry Group and Restructuring and Special Situations Practice. The four transactions which received accolades include:
- Weatherford Restructuring in the Best Restructuring - Overall and Best Restructuring - Oil & Gas categories
- Latham represented Weatherford, one of the world’s largest oil and natural gas service companies, in its chapter 11 case involving a restructuring of more than US$8.6 billion in debt with collateral spanning the globe — and marking the largest US oil and gas bankruptcy by liabilities in 2019.
- Ermewa Group Refinancing in the Best Refinancing - Transport category
- Latham represented the banks and institutions in connection with the €1.6 billion refinancing by Ermewa Group, the transport asset leasing service company. The deal allowed the company to transition from a restrictive asset-backed structure to a flexible corporate financing.
- HS Orka Refinancing in the Best Refinancing - Renewables (Alternative) category
- Latham represented HS Orka, the renewable energy business in Iceland, and its shareholders in securing a US$210 million financing package with a group of commercial lenders. HS Orka will use the facilities to pursue development projects and support further growth of the business.
- East Anglia One in the Best Renewables - Overall and Best Renewables - Offshore Wind categories
- Latham represented Iberdrola in its US$1.63 billion sale of a 40% state in East Anglia One offshore wind farm to Green Investment Group.