New York, July 31, 2007—Shearman & Sterling represented the lead arrangers and joint bookrunning managers in connection with InterGen N.V.’s refinancing. The financing consisted of both the first-ever bond offering by the company and a bank facility.

The Capital Markets Group represented Merrill Lynch International, Lehman Brothers Inc., Barclays Bank PLC and Deutsche Bank Securities Inc. as joint bookrunning managers in connection with a $1.88 billion Rule 144A/Regulation S offering of US dollar, British pound sterling and euro denominated high yield senior secured notes of InterGen N.V. The Finance Group represented Merrill Lynch International, Lehman Brothers Inc., Barclays Capital and Deutsche Bank Securities Inc. as lead arrangers of a $1.520 billion financing for InterGen N.V. The financing consisted of a $720 million revolver and a $800 million term B loan. The proceeds will be used to refinance parent and project-level indebtedness and for working capital and general corporate purposes.

InterGen is a leading global power generation company which develops, owns, operates and manages a diverse portfolio of electric generation plants. Plants and development projects are located in the UK, the Netherlands, Mexico, the Philippines, Australia and Singapore. InterGen is jointly owned by the Ontario Teachers’ Pension Plan and AIG Highstar Capital II, L.P.

Attorneys included partners Don Lonczak (NY-TX), Kenneth MacRitchie (LO-PDF) and Cynthia Urda Kassis (NY-FG), counsel John Berkery (NY-CM) and Robert Freedman (NY-FG), associates Robin Bayley (LO-PDF), Mark Grinfeld (NY-TX), Andrew Hyman (NY-CM), Jennie Ingram (NY-CM), Danielle Kalish (NY-FG), Dana King (NY-FG), Bronwen Mason (NY-CM), Jason Pratt (NY-PR/ENV) and Eva Rasmussen (NY-ECEB).