We represented Goldman Sachs, JPMorgan Chase, Barclays and WestLB, as arrangers, in connection with the transaction awarded North American Merchant Power Deal of the Year 2006 by ProjectFinance magazine. The transaction involved Energy Capital Partners’ acquisition of Northeast Utilities’ baseload merchant capacity in Massachusetts and Connecticut. Shearman & Sterling represented the arrangers in connection with $855 million of first lien and second lien loans to finance ECP’s acquisition of the generating assets. The official announcement of the award was made in the February 2007 issue of the magazine. Partner Tricia Hammes and associate Hilary Allen led the firm’s representation in this matter.

“North American Merchant Power Deal of the Year” (2006) – ProjectFinance