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Patricia
G.
Hammes
Partner
Education
The American University, Washington College of Law, J.D., 1993
Bucknell University, B.A., 1985
Practice Patricia Hammes is a partner in the Project Development & Finance Group and the Co-head of the firm’s Sustainable Development Group. Her practice consists of representing United States and foreign corporations and financial institutions in acquisition financings, project financings, restructurings and joint ventures, and she has been named a leading lawyer in project finance by Chambers USA, Chambers Global, IFLR 1000, PLC Which Lawyer? and Guide to the World’s Leading Project Finance Lawyers. Ms. Hammes was resident in the firm’s Hong Kong office from February to September 1999.
Experience
Power
- ING Capital LLC, Citicorp North America, Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley Senior Funding, Inc. as joint lead arrangers and joint bookrunners in connection with the $345 million financing for the construction of LS Power’s 738 MW natural gas-fired, combined-cycle electric generating facility in West Deptford Township, New Jersey
- Mizuho Corporate Bank, as mandated lead arranger in connection with the financing for TCT Generation Holdings, LLC, a joint venture owned by Tyr Energy, Inc., a US subsidiary of ITOCHU Corporation and Chubu Electric Power Company, Inc., regarding its acquisition of equity interests in five operating power facilities in the US from Tenaska Energy, Inc.
- Various financial institutions (including The Bank of Tokyo Mitsubishi, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation) in connection with providing acquisition financings to the United States subsidiaries of Electric Power Development Co. (J-Power) in connection with their acquisition of interests in various power projects, including the Tenaska Fluvanna Project, the Freeport Project, the Pinelawn Project, the Birchwood Project, the Elwood Project and the Tenaska Frontier Project
- The lead arrangers in the financing for the recapitalization of the Calhoun natural gas-fired power project, owned by NextEra Energy, in Alabama
- EQT Infrastructure Limited and Fortistar in connection with the acquisition and related financing of the Midland Cogeneration Power Project, one of the largest gas-fired cogeneration projects in the United States (selected as North America Acquisition Deal of the Year” (2009) by Project Finance)
- North American Energy Alliance, an affiliate of Industry Funds Management Pty, Ltd., in the acquisition and related financing of a portfolio of US-based power projects from Consolidated Edison
- Morgan Stanley & Co. Incorporated, Dexia Credit Local (New York Branch), ING Capital LLC and Natixis (New York Branch), as joint lead arrangers in connection with the construction financing for a repowering of a power generation portfolio owned by Topaz Power located in Texas (selected as “North America Portfolio Deal of the Year” (2009) by Project Finance)
- Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Credit Partners L.P., J.P. Morgan Securities Inc., Lehman Brothers Inc. and Morgan Stanley Senior Funding, as lead arrangers in connection with the bridge facilities provided as part of Kohlberg Kravis Roberts & Co.’s, TPG’s and Goldman Sachs’ leveraged buyout of TXU Corp.
- Barclays Capital and Goldman Sachs, as lead arrangers, in connection with providing acquisition financing to Bicent Power for its acquisition of Centennial Power and Colorado Energy Management from MDU Resources, which included 603 MW of electric generating capacity (including wind, natural gas and coal-fired generation) located in Montana, Colorado, California and Georgia
- Goldman Sachs, JP Morgan, Barclays and WestLB, as arrangers, in connection with the first and second lien acquisition credit facilities to be used by NE Energy, Inc. in connection with the acquisition of certain power generating assets located in the United States from Northeast Utilities Inc. (selected as “North American Merchant Deal of the Year” (2009) by Project Finance)
- Morgan Stanley, Bear Stearns and Deutsche Bank as lead arrangers in connection with first lien credit facilities for MACH Gen, the proceeds of which were used by MACH Gen to refinance a portion of the construction financing for the Athens, Covert, Harquahala and Millenium power generating projects
- Mizuho Corporate Bank, JBIC and the other senior lenders in the project financings for the Tuxpan II, Tuxpan V and Altamira II IPP Projects in Mexico
- Société Générale in the U.S. Eximbank/EDC supported export financing of the Skikda Power Plant, a 823 MW gas-fired power generating facility in Algeria, developed by Sonatrach and Sonelgaz and constructed by SNC Lavalin
Renewables
- The United States Department of Energy in connection with the issuance of a Section 1705 loan guarantee to Great Basin South LLC in respect of the financing of the development and construction of the ON Line Transmission Line in Nevada
- Citigroup Global Markets Inc. and Jefferies Finance LLC as joint lead arrangers and joint bookrunners of a senior secured term loan for Aventine Renewable Energy Holdings, Inc., a leading ethanol producer
- The lead arrangers in the financing for the recapitalization by NextEra Energy Resources LLC, a subsidiary of FPL Group Inc., of a portfolio of three wind power projects in Texas, Wisconsin and South Dakota, with a combined capacity of 184.5 MW
- Various financial institutions in connection with various commodity hedging transactions, including with respect to various intercreditor and collateral arrangements
- A lender to a solar project developer in the construction and operation of solar rooftop systems
- HSH Nordbank, as lead arranger in a turbine supply and construction loan facility to Terrawinds Resources in connection with the development of a 201 MW wind energy project in Quebec, Canada
Infrastructure & Manufacturing
- The United States Department of Energy in connection with the issuance of a Section 1705 loan guarantee to SoloPower, Inc. in respect of the financing of the construction and operation of state-of-the-art thin-film solar module manufacturing facilities in Oregon and California
- Morgan Stanley Infrastructure Fund as borrower under a revolving credit facility secured by certain of its partners’ capital commitments, the proceeds of which are to be used to support its investment in infrastructure assets
- Macquarie Infrastructure Company LLC, as borrower, in connection with an acquisition and working capital facility the proceeds of which will be used to support investments in infrastructure assets
- A private equity fund in connection with the proposed development and financing of a coking facility as part of a steel mill to be constructed in Brazil
- The lead arranger in a secured acquisition financing of paper mill companies located in the United States by a Mexican company
Oil & Gas
- The lead arrangers, in the $763 million project financing for the Canaport LNG regasification terminal being developed by Repsol and Irving Oil in New Brunswick, Canada (selected as “North American Midstream Oil and Gas Deal of the Year” (2006) by Project Finance)
- Industry Funds Management in connection with the financing of its acquisition of an interest in Colonial Pipeline Company
- Termigas S.A. de C.V. and Gasoductos Mexicanos S.A. de CV in the proposed development and financing of the Atotonilco liquefied petroleum gas project in Mexico
- Mizuho Corporate Bank, as mandated lead arranger and Intercreditor Agent in connection with the financing of the PDET offshore oil platform in Brazil, which financing consists of a tranche of debt provided by JBIC and a tranche of debt provided by the NEXI Lenders, and including political risk coverage provided by NEXI (selected as a “Top 10 Deal of the Year – Americas” (2005) by Project Finance International)
- WestLB, as lead arranger in the financing of the OCP (Oleoducto de Crudos Pesados) Pipeline, a 500 km heavy crude oil pipeline in Ecuador (selected as “Oil & Gas Deal of the Year” (2001) by Project Finance International)
- Tokyo Gas in their minority investment in the Malhas Pipeline Project in Brazil, in which JBIC was a lead lender
- PDVSA in connection with the proposed development and financing of a pipeline project in Venezuela
- A consortium in connection with a proposal and discussions with the Ministry of Oil of Iraq for the development of an oil refinery in Iraq
Metals & Mining
- SG Americas Securities, LLC as sole lead arranger and sole book manager in connection with a revolving credit facility and related commodity hedges for Revett Silver Company, a subsidiary of Revett Minerals Inc.
- Citigroup Global Markets Inc. as joint lead arranger in connection with a secured revolving credit facility, as well as a subsequent amended and restated credit facility, for Foresight Energy LLC
- Compañía Minera Gibraltar Limitada and Westmin Resources, as borrower and guarantor, in connection with the $104 million project financing of the Lomas Bayas copper mine and related facilities in Chile
- The lead arrangers in the proposed project financing of the Mulatos gold mine in Mexico
Restructuring
- Silver Point Capital, L.P. in connection with the restructuring of the limited recourse financing of GBGH, LLC in connection with its bankruptcy proceedings; GBGH LLC is the owner of a portfolio of natural gas fields and the 145 MW Knapton power generating station located in the United Kingdom
- The Unsecured Creditors’ committee of Mirant Corporation in connection with its Plan of Reorganization and related exit financing for Mirant Corporation and its subsidiaries
- Citibank and JPMorgan Chase as Lead Arrangers in connection with the partially secured restructuring of over $2.4 billion of debt of Allegheny Energy and Allegheny Energy Supply
- The People’s Government of the Guangdong Province in the comprehensive restructuring of Guangdong Enterprises (Holdings) Limited and Nam Yue (Group) Co., Ltd.
Publications
- Co-author, “Toward the Future of Federal Surface Transportation Funding: An Overview of the House and Senate Reauthorization Bills,” cited in Transportation Finance Intelligence, February 29, 2012
- Co-author, “US Solar: Of PPA Securitisations, horizons & hurdles,” Infrastructure Journal, November 11, 2011
- Co-author, “Closing the gap: Proposals for rebuilding US infra,” Infrastructure Journal, June 14, 2011
- Co-author, “Industry Current: U.S. Renewable Energy – Continuing to Push Ahead,” Power Finance & Risk, June 10, 2011
- Co-author, “If It's Built, Will They Come? Analyzing Issues in Renewable Energy Transmission,” Bloomberg Law Reports, Sustainable Energy, November 2010
- Co-author, “Energizing Green Energy Financing: Analyzing the Stimulus Package’s Jolt to the Green Energy Sector,” Bloomberg Law Reports, Sustainable Energy, October 2009
- Co-author, “Putting the Wind (Back) to Work: Fostering Project Development in a Credit Crisis,” New York Law Journal, July 6, 2009
Bar Admissions/Qualifications
New York
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