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News Jan 05, 2018

Shearman & Sterling Receives Five PFI Awards

Shearman & Sterling has received five 2017 PFI Awards, as announced by Project Finance International. The awards honor high performance and achievement over the past 12 months in the global project finance market.

The firm was recognized for its work on a broad range of global projects during the past year across Asia-Pacific, the Middle East and Africa:

  • Global | Multilateral Deal of the Year: Egypt solar — Shearman & Sterling advised Société de Promotion et de Participation Pour la Coopération Economique S.A. ("Proparco") on the $30 million financing of a 32MWp solar photovoltaic power plant in the area of Benban, Aswan Governorate, Egypt. This project forms part of the Round 2 Feed-in-Tariff program in Egypt.
  • Middle East and Africa | Power Deal of the Year: Sweihan — Shearman & Sterling advised the lenders on the development and financing of the $870 million, 1.17 GW Sweihan Solar PV IPP near Sweihan in Abu Dhabi. This will be the largest solar PV project in the world.
  • Middle East and Africa | Bond Deal of the Year: ACWA APMI One — Shearman & Sterling advised the initial purchasers on the $814 million Regulation S/144A bond offering by ACWA Power Management and Investments One Limited.
  • Asia Pacific | Bond Deal of the Year: Paiton — Shearman & Sterling advised on PT Paiton Energy’s US$2.75 billion debt refinancing, including a US$2 billion project bond and the US$750 million loan facility
  • Asia Pacific | Petchem Deal of the Year: Pengerang — Shearman & Sterling advised on the Pengerang Integrated Petroleum Complex (PIC) being developed in the Malaysian state of Johor

The awards will be presented at the 2017 PFI Awards Dinner in London on February 7, 2018. Considered to be one of the most prestigious events in global project finance, it is expected to draw over 800 of the world’s most senior and successful professionals to celebrate industry excellence.