Euromoney recognizes Garrigues’ role in two key project financing deals in 2011
Euromoney highlighted the Acciona renewables portfolio refinancing deal in Renewables and the Hospital de Móstoles financing deal in Healthcare
Yesterday, in London, Garrigues received recognition for the role it played, together with financial institutions and companies, in the Project Finance Deals of the Year 2011 in renewables and healthcare. In this way, Euromoney, which publishes Project Finance Magazine, highlights the best deals of 2011 in Europe in 24 different categories.
The recognition in Renewables was for the advisory services provided in the refinancing of the renewables portfolio acquired by Acciona from Endesa in 2009. The deal relates specifically to the financing of a 1,310MW set of hydroelectric and wind power assets located in Spain (41 wind farms and 24 small hydroelectric power plants) for a sum of €1,421 million. The deal involved 12 banks and was one of the largest completed in Europe.
In turn, financing of the construction of the Hospital de Móstoles in Madrid was recognized as the top healthcare deal in the year, for its technical complexity and the fact that it was made at a time of great uncertainty in the construction industry.
During the course of the project, devices were used to lighten the burden of guarantees for the developer; thus the construction work as such and the operations and maintenance (O&M) of the hospital infrastructure were developed by separate companies.
This recognition from the Euromoney group confirms Garrigues as the leading law firm in project finance, thanks to the top-quality legal advisory services provided by an outstanding team of lawyers with in-depth knowledge of the Spanish and international markets and the ability to grasp and adapt to client concerns.
The Project Finance area at Garrigues has also received recognition in other prestigious publications. According to Chambers Global, clients describe Garrigues as “the No. 1 Law Firm in the Project Finance area in Spain; the Firm that provides the best service, in Spanish and international deals, with an outstanding close-knit team”.