Andrew Watson

Andrew has extensive experience advising on all types of power projects including solar PV and wind, conventional power, cogeneration (CHP), and battery storage. Although specialising in relation to finance aspects of power projects, Andrew’s expertise is much broader and encompasses acquisitions and divestitures, joint ventures, and the full range of commercial contracts.

• Advised a global US investment manager in relation to sale of a portfolio of SRT/securitised products (a significant portion of which comprised first-loss products) related to a large portfolio of European renewables assets situated in Italy, Spain, UK, France, and other European jurisdictions.
• Advised a major infrastructure debt fund in relation to the project financing of a tire pyrolysis recycling project in North America.
• Advised a major infrastructure debt fund in relation to the project financing of a series of small-scale flexible gas power plants developed in the UK as part of a portfolio of “peaking” or “flexible generation” assets, and the refinancing of the same post-operation.
• Advised a major infrastructure debt fund in relation to a US$ senior secured loan facility to finance the development of an 11 MW cogeneration facility (CHP) to generate electricity as well as provide power, heat, and water to an integrated packaged ice manufacturing facility in New York.
• Advised an international investment bank in relation to the financing of its participation in the purchase of a major gas-fired power plant in in the UK and the provision of ongoing financing to the special purpose acquisition vehicle.
• Advised a Spanish renewables developer in relation to development of a portfolio of small (approximately 5 MW) solar PV projects in the UK.
• Advised in relation to the project financing of gas-fired power plants in the UK, Italy, and Spain.
• Advised a Greek developer of wind projects on the acquisition and financing of two wind farms in Crete (Greece).

Andrew has extensive experience advising on a wide range of transport-based projects including motorways, tunnels, high-speed rail and underground metro systems. Andrew has led teams which have successfully project-financed some of Europe’s ground-breaking major infrastructure projects, covering every aspect including financing documentation and the full range of project documentation. He has been at the forefront of developing PPP and similar financing models in Europe.

• Advised Moreas S.A. (the project company) and its sponsors in relation to the €1.4 billion Korinth Tripoli Kalamata Motorway project in Greece.
• Advised the project company and its sponsors in their structured bid for the €1 billion plus Malaikos Kleidi Motorway project in Greece.
• Advised the project company and its sponsors in relation to the Thessaloniki Submerged Tunnel project in northern Greece.
• Advised the European Investment Bank in relation to the project financing of the €1.2 billion HSL high-speed rail project in the Netherlands.
• Advised the arrangers in relation to the financing of the €1.3 billion Athens Ring Road project.

Andrew has extensive experience advising on oil and gas developments and financings around the world including in North America, Africa, and Europe. Projects include cross-country oil pipelines, LNG re-gasification terminals, FLNG and FPSOs, helium extraction and processing, divestiture of a major European oil refinery, and acquisition of offshore oil and gas assets. Andrew has represented oil majors, lenders, and project sponsors.

• Advised a major infrastructure debt fund in relation to a holdco level facility to part-finance the construction and commissioning of a US$1.2 billion FLNG (floating liquefied natural gas) vessel constructed in Asia for operation in Africa.
• Advised a major infrastructure debt fund in relation to a hybrid corporate/secured US$ loan facility for a major operator of marine LNG infrastructure to assist the borrower to finance its rapidly expanding fleet of floating LNG assets.
• Advised a major infrastructure debt fund in relation to a project finance facility for the development and expansion of a helium extraction and refining project in the US, and the subsequent refinancing of such facility.
• Advised an oil major in relation to all ongoing aspects of the Chad–Cameroon pipeline project and the related Three Fields oilfield development in Chad, project-financed by various commercial and multi-lateral banks.
• Advised an independent oil company in relation to the financing of a US$850m floating production, storage and offloading facility (FPSO) for the Jubilee Field in deep-water offshore Ghana.
• Advised in relation to the sale and purchase of various oil and gas assets in the North Sea and offshore Africa.
• Advised an oil major in relation to its financing of the purchase by a Scandinavian-based group of the oil major’s oil refinery in Gothenburg (Sweden) and most of its downstream business in Scandinavia.
• Advised a Canadian oil and gas company in relation to a US$ project financing of an LNG re-gasification terminal (and all related infrastructure) to be constructed in Canada.

Andrew has extensive experience advising on telecoms projects and financings around the world, acting for lenders, project sponsors, and developers, and major telecoms equipment manufacturers. Projects include subsea fibre optic cables and mobile telephone communication systems.

• Advised a major infrastructure debt fund in relation to a US$50m junior loan facility to part-finance the design, engineering, construction, and operation of a cross-pacific submarine telecom cable.
• Advised a major infrastructure debt fund in relation to a US$250 million junior loan facility to be provided to a Hong Kong-based company to finance the design, engineering, construction, and operation of a subsea cable for data transmission between Hong Kong and the Western United States.
• Advised a global telecoms equipment manufacturer in relation to numerous secured financings in relation to “vendor finance” sales of telecommunications systems.

Andrew has advised on a range of project developments and financings of social infrastructure including student housing, educational campuses, and public buildings. On the financing side, these have included application of PPP models as well as more conventional senior secured project lending.

• Advised a major infrastructure debt fund in relation to senior secured financings of numerous student housing projects in the Netherlands.
• Advised a major infrastructure debt fund in relation to the financing of an international school and college campus on the East Coast of the United States for a leading American educational facility developer.
• Advised the sponsors and project company in relation to the Piraeus Police Directorate PPP in Greece.

Andrew has extensive experience advising on a very broad range of finance arrangements, acting for borrowers, corporations, commercial and multi-lateral lenders, and infrastructure debt funds. He has particular expertise advising on acquisition financings, fund financing, general corporate finance, and restructurings.

• Advised a major infrastructure debt fund in relation to acquisition financings of numerous UK and Irish corporate groups, including in particular various corporate groups operating care home and specialist healthcare businesses.
• Advised a major infrastructure debt fund in relation to a holdco-level financing in relation to a leading UK-based operator of specialist healthcare facilities.
• Advised a major infrastructure debt fund in relation to the restructuring of senior and mezzanine loan facilities made available to a UK-based operator of specialist healthcare facilities.
• Advised a Pan-African food and beverage conglomerate in relation to various term and revolving finance facilities provided by Africa-based banks.
• Advised a leading European bank in relation to numerous secured equity bridge facilities, ranging in value from approximately €200 million to €400 million, to bridge finance investments to be made by investors into various funds located in numerous jurisdictions including Luxembourg, Jersey, Cayman Islands, and Sweden.
• Advised a major German industrial company in relation to the refinancing of various existing financing arrangements (including secured term loan facilities and a New York law-governed note issue), supported by security arrangements from group companies in numerous countries.
• Advised a leading Middle Eastern sovereign wealth fund in relation to the financing of its acquisition of a portfolio of three trophy London hotels for a purchase value of approx. £1.4 billion.
• Advised a German bankruptcy trustee in relation to the English law aspects of the winding up of one of the world’s largest traders of bunker oil, incorporated in Europe and with operations in 29 countries.
• Advised one of the world’s leading sports equipment companies in relation to the UK and Dutch aspects of its US$500 million group-wide financing arrangements provided by different banking syndicates, including term, revolving, and ABL facilities secured over various assets.