Shearman & Sterling’s Capital Markets and Project Finance groups were recognized by International Financial Law Review (IFLR)
as “High Yield Team of the Year”
“Project Finance Team of the Year.”
The firm was also awarded “Project Finance Deal of the Year” for its work on the financing of the Central Java power project. Led by partner Bill McCormack (Singapore-Project Development & Finance), along with partners Ben Shorten (Singapore-Project Development & Finance) and Etienne Gelencsér (Tokyo-Project Development & Finance), the team advised Bhimasena Power Indonesia on the development and financing of the 2,000 MW Central Java greenfield coal-fired power project in Batang Regency in Central Java, Indonesia. The project was the first public private partnership project to combine a guarantee of the Indonesia Infrastructure Guarantee Fund with a guarantee from the Ministry of Finance of Indonesia.
The IFLR Asia Awards recognize innovative teams and deals across the Asia-Pacific region. Eight firms were shortlisted in the high yield category and seven in project finance. Shearman & Sterling won due to the firm’s work on high-profile, first-of-kind, complex matters throughout 2016.