K&L Gates’ Project Finance practice operates from multiple offices in Asia, Australia, Europe, the Middle East, and the United States. We have worked on projects in locations spanning the globe, including the Americas, the countries of Europe, the Middle East, and Africa; Russia and Central Asia; and the Asia-Pacific region, including Australia. Our practice is founded on major projects in developed and emerging markets across the globe. Our project finance lawyers work closely with lawyers in other practices, including Energy, Infrastructure and Resources, Investment Management, Restructuring & Insolvency, Derivatives & Structured Products, and Public Finance. We also work closely with our Africa and our Latin America practice groups.
We regularly represent borrowers, lenders, and credit enhancement providers in financing of a wide range of infrastructure projects. Our borrower clients include private and public sponsors, developers, and promoters of projects. On the lender/credit enhancer side of the equation, our clients include commercial banks; non-bank private lenders such as infrastructure funds, private equity firms and separately managed accounts; and credit agencies, multilateral financial institutions and development banks.
We have the full breadth of skills needed to bring major projects to fruition across a broad range of sectors, including electric power, energy, water, wastewater, transportation, waste management, mining, telecommunications, and social infrastructure. We are uniquely positioned to take borrowers through the entire cycle of project financing from initial structuring of a financeable set of project documents to successful financial close. For lenders, we are equally well positioned to provide expert due diligence on all types of projects and prepare and negotiate financing documents for a successful financial close.
Our project finance team has extensive experience in structuring, documenting, and implementing a wide range of limited-recourse financing structures for major projects. In the financing phase of infrastructure projects, we advise on traditional project financing, structured finance, taxable and tax-advantaged debt, equity, and intercreditor arrangements, as well as tax increment financing, taxable and tax-advantaged debt, project and municipal bonds, and securitizations. We also have experience in workouts and restructurings involving complex projects.
In handling complex project finance transactions, we draw upon the knowledge and skills of our lawyers in related practice areas. Our integrated multidisciplinary approach gives our clients seamless access across our platform to focused advice that allows them to make the best decisions for their projects and execute those decisions in the most effective manner. Our strength in risk management and insurance coverage, tax, real estate, land use, environmental permitting, regulatory matters, and public policy in multiple jurisdictions enables us to provide high quality representation to borrowers or lenders from the earliest phase of the project through financial close and beyond.
In conjunction with lawyers in our Derivatives & Structured Products practice, we are also familiar with the documentation, regulatory, and counterparty issues in hedging of price, interest rates, and foreign exchange risk across a wide range of regions, currencies, and industries.
K&L Gates' project finance lawyers have extensive familiarity with the diverse, detailed, and innovative legal requirements applicable to structuring, developing, constructing, and operating economically and legally independent projects and facilities for a wide range of infrastructure projects. Our ongoing experience with the financing of a wide variety of complex projects gives us a fresh and unique perspective that allows us to fashion creative solutions for our clients’ transactional needs. We collaborate with project sponsors and participants to understand the dynamics of the project from each of their perspectives. We then advise our clients on the best means of achieving their financing objectives and needs in light of governance, tax, and other constraints.
We work closely with lawyers in our Public Finance practice in the issuance of tax-exempt and taxable bonds to finance large infrastructure projects such as airports, shipping ports, sports stadiums and arenas, and highways; and large scale social infrastructure projects, such as affordable housing, health care facilities. and educational facilities. In the United States, where we have one of the nation’s premier municipal finance practices, we have served as bond counsel on many taxable and tax-exempt revenue bond issues for airport and seaport facilities.
K&L Gates has proven experience advising financial institutions, project sponsors, investors, contractors, private equity funds, financial institutions, and governments on financing projects in the mining sector, advising on all phases of the project—from the initial structuring and development through bidding, financing, construction, and beyond. Our leading team has advised on projects in more than 15 countries on five continents with an aggregate value of well in excess of $20 billion.
Our project finance lawyers have many years' experience in all aspects of project financing of hard rock mining projects across many jurisdictions and a variety of mineral commodities, including precious metals, base metals, coal, and others. We have worked closely with clients that are either lenders or project sponsors, and have a deep understanding of the issues and challenges associated with developing and financing a mining project.
We are adept at all aspects of financing and building the required power, water, and transportation infrastructure associated with resource extraction and purification, as well as working with host governments on structuring concession and other operating agreements providing for the extraction and commercialization of natural resources by offshore participants.
Our transactional experience includes an award-winning gold mine financing in the Philippines and an innovative prepayment gold purchase financing in Mongolia. Our lawyers have also advised on financing of mining projects in many jurisdictions in Australia, Southeast Asia, and North and Sub-Saharan Africa. We have acted for clients in francophone West Africa and have a strong understanding of the regulations of the Organisation for the Harmonization of Business Law in Africa (OHADA), as well as onshore and offshore foreign currency account structures to accommodate the monetary regulations and repatriation requirements of the West African Economic and Monetary Union (UEMOA). Together with lawyers in our Capital Markets practice, we regularly advise on conflict mineral disclosure requirements in applicable jurisdictions.
Our project finance lawyers work closely with lawyers in our PPP practice and our U.S. Public Finance practice to implement traditional project financing, structured finance, taxable and tax-advantaged debt, equity, and intercreditor arrangements. We help create innovative financing structures that respond to the diverse and detailed legal requirements for structuring, developing, constructing, and operating economically and legally independent projects and facilities.
Our ongoing experience with the financing of a wide variety of complex projects gives us a new, unique perspective that benefits our clients in the form of creative solutions to their transactional needs. For example, in the U.S. Pacific Northwest, K&L Gates pioneered the use of 63-20 financings, an innovative financing vehicle well-suited to financing the public portion of projects that also include separate private components. These financings have been employed successfully to provide tax-exempt financings for projects that are used and ultimately owned by public entities. This technique allows public entities to achieve their public purposes without incurring debt and provides greater flexibility to negotiate construction contracts.
We also assist clients in the use of Recovery Zone Facility Bonds in public-private projects in the United States and are active in the use of tax increment financing of infrastructure or o