Finance Monthly Deal Maker Awards 2016 Edition

FINANCE MONTHLY DEAL MAKER AWARDS 2016 www.finance-monthly.com 50 Nobelwind has secured a EUR 650 million financing for the construction and operation of its offshore wind farm Chosen for his involvement in the following transaction: MARC VERMYLEN At t orney a t l aw, Par t ner Loyens & Loef f WINNER: Marc heads the Banking & Finance Practice Group in Brussels. He is also the Managing Partner of Loyens & Loeff Belgium. Marc has considerable experience in project finance, secured financing, derivatives, clearing and settlement, financial restructuring and securitisation. He is particularly renowned for his expertise in Euroclear related matters, asset-based financing and the financing of large renewable energy projects. His clients include both investors and lenders. He is mentioned in his field of expertise as leading expert by Chambers & Partners (Global & Europe), Legal 500 EMEA and IFLR 1000. He is also ranked in A Word About Wind’s global Legal Power List. Marc is a regular speaker at conferences on cross-border financing topics, and has written various articles on finance related subjects. He also acts as Belgian counsel to ISDA and the banking associations constituting a German Banking Industry Committee (Die Deutsche Kreditwirtschaft) in relation to industry opinions on netting and collateral. He is also recognised as an expert in banking law and finance law by the Best Lawyers guide (2017). Marc has been registered at the Brussels Bar since 2001. FIRM PROFILE As a leading firm, Loyens & Loeff is the logical choice for a legal and tax partner if you do business in, or from, the Netherlands, Belgium, Luxembourg and Switzerland, the firm’s home markets. Clients can count on personal advice from any of the advisers based in one of the firm’s offices in the Benelux, Switzerland or in key financial centres around the world. Thanks to their full-service practice, specific sector experience and thorough understanding of the market, Loyens & Loeff’s advisers comprehend exactly what clients need. The firm’s pragmatic approach and drive to devise innovative solutions allow it to effectively address the demands of its clients’ domestic and international businesses. Thanks to the broad range of its legal and tax experience, know-how and the size of its practices, Loyens & Loeff can offer top-level advice, locally and internationally and is committed to meeting client needs at the highest quality level and in the most efficient way possible. ABOUT MARC VERMYLEN TRANSACTION REPORT Please summarise the transaction On 21 October 2015 Nobelwind NV secured a EUR 650 million financing for the construction and operation of its offshore wind farm located on the Bligh Bank, approx. 46 km off the Belgian coast. It will consist of 50 turbines, generating a total energy capacity of 165 MW, equivalent to the energy consumption of around 186,000 households. The construction of the fourth Belgian wind park started in the spring of 2016 and is expected to be operational by the end of 2017. The funding is provided by the European Investment Bank, BNP Paribas Fortis, Rabobank, SMBC, Mizuho Bank, EKF and GIEK. What was your role within the transaction? Loyens & Loeff assisted the Nobelwind team since the early stages in 2014 up to the financial close. We provided regulatory advice, conducted the legal due diligence and negotiated the various project and finance documents. What were the challenges or difficulties presented? A particular challenge was the fact that this project relied on certain existing offshore infrastructure operated by other projects, which added an additional layer of complexity in the framework of setting up a ring-fenced project financing. How were the challenges or difficulties overcome? Our extensive experience makes for the fact that we know what the sensitivities in deals like these are. Loyens & Loeff can proudly state to be the only firm that has assumed an instrumental role as legal advisor in the financing and development of all offshore wind farms in Belgium to date. In addition, efficient time and expectation management together with a well-oiled cooperation of our finance and regulatory teams made for a smooth process. LOYENS & LOEFF - Advocaten, Avocats Woluwe Atrium, Neerveldstraat 101-103, 1200 BRUSSELS, Belgium Tel: +32 2 743 43 43 | Fax: +32 2 743 43 10 | Website: www.loyensloeff.com CONTACT Q Q Q Q