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Paul Hastings Awarded "North American Portfolio Financing Deal of the Year 2006" By Project Finance Magazine

March 08, 2007

Paul Hastings Awarded "North American Portfolio Financing Deal of the Year 2006" By Project Finance Magazine

New York, NY (March 8, 2007) - Paul, Hastings Janofsky & Walker LLP, a leading international law firm, is pleased to announce that the firm was awarded Project Finance Magazine's "North American Portfolio Financing Deal of the Year 2006" for its innovative work representing Sumitomo Mitsui Banking Corporation in connection with the acquisition of CalPeak Power by Tyr Capital and Starwood Energy Group Global. The award was announced in the magazine's February 2007 issue.

Paul Hastings Global Projects Group represented Sumitomo Mitsui Banking Corporation (SMBC), in acting as sole lead arranger in connection with the financing of the acquisition by Tyr Capital and Starwood Energy Group Global of CalPeak Power and its portfolio of five natural gas-fired simple cycle power plants with a combined capacity of over 250 MW from United Technologies. Project Finance Magazine hailed the deal as "an innovative twist on the B loan structure" that "combines the residual skills of big-ticket lease arranging with project debt and is certain to find new takers."

This recognition is another achievement that demonstrates the capabilities of the Paul Hastings' Global Projects Group.

The multi-office Paul Hastings team, led by Peter Saba, included partners  Bill DeGrandis, Lisa Rushton, Bob Vitale, of counsel Melissa Schwartz, and associates Will Davis, Sven Hodges,  Cara Rodriguez, and Heather Walker, working out of Los Angeles, New York and Washington, DC.

About Paul Hastings Global Projects Group: The Paul Hastings Global Projects Group is internationally recognized for the breadth and depth of project finance capabilities. With more than 25 years of experience, Paul Hastings has one of the most experienced teams of projects lawyers in the world. In the last few years, the Global Projects Group has represented clients in more than US$40 billion of project transactions globally. 

Paul Hastings Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,100 attorneys in 18 offices. The firm serves a diverse client base including including many of the  leading global financial institutions and Fortune 500 companies and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.

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