Mallesons Stephen Jaques has gained top honours in project finance rankings for the first half of 2005.
According to analysis by Dealogic, Mallesons is positioned at number one in both the Asia Pacific (with a 16.2% market share) and Australasia (with a 25.7% market share).
The firm was ranked 6th globally.
Mallesons’ 2004-2005 project finance deal book included many of this market’s most significant transactions, including the:
- US$2.932 billon Mitcham-Frankston Tollway
- US$2.205 billion Sydney Airport Refinancing
- US$1.45 billion Nam Theun 2 Hydropower project in Laos
- US$390 million Braemar Power Plant
- US$315 million Royal Women’s Hospital Redevelopment
- US$74.5 million Woolnorth Bluff Point wind farm
The landmark Nam Theun 2 Hydropower project was ranked at number 7 in Dealogic’s Global Top 10 Project Finance Deals for the first half of 2005. Mallesons acted as the primary adviser to the Government of the Lao People’s Democratic Republic and drafted the benchmark project concession agreement which establishes the framework by which the Nam Theun 2 project will be financed, developed and operated, including the legal protections ensuring compliance with the most stringent of environmental and social obligations.
“It has been extremely satisfying to be involved in a project having such profound economic and social consequences, especially when one considers that all revenues raised by the Government will go towards alleviating poverty and improving the standard of living for the people of Laos,” said Paul Cargill, lead partner on the Nam Theun 2 project.
Commenting on the Australian market generally, Mallesons’ partner Peter Doyle said: “The market is still active and we are currently very busy right across the project finance practice. We are starting to see a more consistent flow of PPPs across all States, in both traditional infrastructure, such as toll roads, and in social infrastructure, particularly hospitals and schools.”
The Renewable Energy sector has continued to be strong according to Mallesons’ partner Tony Holland.
“Wind Farm and renewable energy projects have been a focus for the firm now for a number of years. It’s pleasing to see the number of transactions increase from previous years,” he said.
In conclusion, Peter Doyle said: “Our clients have provided us with the opportunity to work on some of the most complex project finance transactions. Our ability to deliver on projects such as the Mitcham-Frankston Tollway, Nam Theun 2 and the Woolnorth Bluff Point wind farm throughout the region is one of our strengths.”