DLA Piper Global Law Firm
Agility Trains Limited (a consortium comprising Hitachi Rail Europe Ltd and John Laing Investments Limited) on the award-winning Intercity Express Programme (IEP). IEP is both the biggest privately financed rolling stock deal in history, anywhere in the world, and one of the largest, most ambitious and complex PPP projects to date. Agility, advised by HSBC and DLA Piper, helped create a structure that enabled approximately £2.5 billion of senior debt to be provided with a long term tenor approaching 30 years by four groups of lenders.
Nottingham City Council in the UK in connection with the design, construction, finance and commissioning of Phase Two of the Nottingham Express Transit system which includes two new lines to create an integrated network and any future extensions, together with the operation and maintenance of the entire extended network including NET Line One over a period of approximately 23 years. Unusually, this complex £570m PFI project also involved a corporate acquisition by a local authority of the incumbent concessionaire. DLA Piper was commended for its role in this project in the FT's 'Most Innovative Firms in Finance Law' awards 2012.
Sheffield City Council in the UK in respect of their £2 billion highways maintenance and street lighting PFI project, which deals with the rehabilitation and ongoing maintenance of over 2,000 km of carriageways and footways, 350 bridges and other structures. Financial close was reached in Summer 2012 with Amey, its private sector contractor, for a 25 year contract.
The Administrative Agent and the senior bank lenders to the Pocahontas Parkway tollway project in Virginia, in connection with the 'take back the keys' by the lenders, restructuring of debt and equity, and tax structuring for a mix of cross-border, public and private side lenders, including TIFIA.
The consortium led by D.M. Consunji Inc on the AUD$1.2 billion Manila LRT Line 1 Extension, Operation and Maintenance PPP. This project will involve a vertically integrated rail operation and maintenance PPP for 35 years (including the design and construction phase). This project, which is classified as a 'Priority Project' under the Philippines' PPP Program, will extend the existing 20.7 km LRT Line 1 by an additional 11.7 km, of which approximately 10.5 km will be elevated and 1.2 km will be at-grade. Once completed, it is expected that the ridership of LRT Line 1 will increase from 500,000 to 700,000 passengers per day. It is intended that the project cost will be equally split between the private sector and the government.
Queensland Rail on the contract methodology and procurement process for the provision and implementation of the European Train Control System Level 2 (ETCSL), a signalling and rail management system for the largest rail operator in the Southern Hemisphere. The procurement was structured as a two stage Early Contractor Involvement (ECI) process to identify global and local rail service providers who could participate in collaborative workshops to develop inter-operability rules necessary for inter-operation of multiple work package interfaces including telecommunication, trackside infrastructure, on-board computing and network management systems.
AGC as international legal advisers for the Bangkok Integrated Ticketing System Project in Thailand, which involves the development and implementation of a common ticketing system, central clearing house, and the creation and modification of front-end systems to support the phased rollout of a smart card for the Bangkok Mass Transit system. It is currently anticipated that the ticketing system will cover use of existing highway infrastructure, rail, bus and ferry networks and may be rolled out to non-transport operators as the Project matures. With an existing metropolitan population of over 14 million, and an anticipated patronage of some 10 million passengers per day, this Project represents a significant investment in public transport infrastructure for Thailand by the Thai Government, supported by international funding.
London Luton Airport Limited (a public airport company owned by Luton Borough Council) in relation to all aspects of the development and concession arrangements at Luton Airport, including advising on the master plan process and competition and procurement issues. Our advice covered the impact of the development options on the current concession framework and the structuring and development options with the concessionaire.
The European Investment Bank and the European Bank for Reconstruction and Development in relation to the financing of new infrastructure development in Chisinau Airport in Moldova. As well as advising on the financing of the development and the related supporting documents, we also advised on all aspects of the direct agreement arrangements.
The preferred bidder, the Vinci-led consortium, following its successful bid for the Euro 2 billion Oosterweel PPP tunnel and bridge project (Antwerp). This consists of a tunnel under the river Schelde and a bridge over part of the harbour of Antwerp. The work included analysing both the risk allocation of the DBFM contract and the complex split public/private sector funding proposal.
A DLA Piper cross-border team, led from London and including teams in Budapest and Frankfurt acted for the lead arrangers as common counsel on the project financing of the acquisition of Budapest Airport. The Hungarian Government launched the high profile tender in 2005 for the sale of a majority stake in Budapest Airport following a very tight schedule. The non-recourse project financing for this project, €1.52 billion, was the biggest to have closed in Hungary.
The Lend Lease and Bouygues joint venture as preferred bidder for the Design & Construction of the NorthConnex motorway tunnel PPP project in Sydney, Australia. The Project involves the construction and operation of a $2.65 billion nine kilometre tolled link from the southern end of the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at its existing Pennant Hills Road interchange. The construction elements include for two new dual lane carriageways; an interchange at the northern and southern end of the motorway; a motorway control centre including operation and maintenance facilities; a toll collection system; ventilation system and all other associated property works, utility service works and local area works. The aim is to reduce traffic congestion and the number of heavy vehicles on Pennant Hills Road, resulting in improved safety, local air quality and noise amenity along the corridor.