May 31, 2013 - Three RBC Capital Markets clients have been recognized by their peers for excellence by Power Intelligence at the 10th annual Power Finance Deals and Firms Awards. The awards were judged in an online poll of nearly 100 active borrowers, asset acquirers and sellers, lenders, attorneys and advisors in order to recognize the leading players and top deals in the Americas in 2012.
The winning deals include:
Renewables Project Finance Deals of the Year
Sponsor: Pattern Energy
Asset: 265 MW wind project in Imperial Valley, California
Deal Size: $600 million
Lender Roster: North American Development Bank, Deutsche Bank and RBC Capital Markets
The Ocotillo project will be the first to deliver wind power over the Sunrise Powerlink. The project has also received awards from the National Association of Environmental Professionals and the California Association of Environmental Professionals for outstanding environmental analysis.
Non-Renewables Project Finance Deal of the Year
Company: Sabine Pass
Sponsor: Cheniere Energy
Asset: First trains of the liquefied natural gas export project that will have 16.9 billion cubic feet of capacity and 4 bcf in re-gasification and send-out capacity
Deal Size: $3.6 billion
Lender Roster: Bank of Tokyo-Mitsubishi, Crédit Agricole, Credit Suisse, HSBC, JPMorgan, Morgan Stanley, Royal Bank of Canada and Société Générale.
The Sabine Pass project is one of the largest project finance loans the industry has seen in years, opening up a new asset class.
M&A Asset Deals of the Year
Company: Midland Cogen
Buyer: Borealis Infrastructure
Seller: EQT Infrastructure, Fortistar
Asset: 1.56 GW Midland gas-fired cogen in Midland, Michigan
Purchase Price: $1.3-1.4 billion
Buyside Advisors: None
Sellside Advisors: Credit Suisse, Royal Bank of Canada