Project Finance



Whether energy generation, transportation facilities, stadiums and arenas or other major infrastructure, our multidisciplinary team efficiently and effectively gets the deal done.

Because we know the industries in which our clients operate, we understand the distinct issues and concerns of each of the parties involved and how decisions along the way can have a unique impact. We navigate all of the individual perspectives, approvals, needs and requirements to reach agreement on all issues and complete the transaction.

Our approach

The large, often complex projects we work on bring together multiple entities that operate under different regulatory requirements, access capital from different sources, often have different goals and answer to ownership or management teams with distinct strategic priorities. The complexity of the deals requires a legal team with experience and agility.

We draw on Nixon Peabody’s diverse pool of talent and resources in environmental, real estate, investment and tax law to craft broadly reasoned strategies. This interdisciplinary capability is often a powerful asset for clients attempting to master complex infrastructure problems in a demanding legal environment.

In the energy sector, our lawyers have structured auctions of energy-generating facilities and helped clients acquire and dispose of energy and infrastructure assets, both in the U.S. and abroad. We represent project developers, electric and gas utilities and other energy enterprises before federal and state regulatory bodies in all phases of the regulatory process. In the area of economic development, we have worked on sports and entertainment venues, water facilities, hotels and convention centers, paper and pulp mills, transportation hubs and toll roads.

Who we work with

  • Merchant generating facilities
  • Utility-owned generating facilities
  • Publicly owned generating facilities
  • Combined heat and power projects
  • Pollution control facilities
  • Solid waste/resource recovery facilities
  • Renewable energy projects
  • Construction firms

Recent experience

  • Transbay Joint Powers Authority: Serving as financing counsel to the Transbay Joint Powers Authority in San Francisco, California, in connection with a multi-year, multi-billion dollar mixed use development to replace the former bus depot with a commuter rail/high-speed rail/regional bus facility that will service Bay Area commuters, portions of which will be financed with developer contributions and related real estate-based taxes. Parts of that project may be privatized.
  • Private fertilizer plant: Served as lender’s counsel in connection with a $1.8 billion nitrogen-based fertilizer plant owned and operated by an affiliate of a global nitrogen-based fertilizer producer, engineering and construction company based in Amsterdam, the Netherlands.

Hawkins holds onto top underwriters counsel 1H ranking and Orrick once again on top of bond counsel 1H rankings

The Bond Buyer | July 17, 2019

Nixon Peabody is featured among the top 10 bond counsel and underwriter counsel in The Bond Buyer’s 2019 first-half rankings.

Could ‘beautiful clean coal’ be the next big thing in tax equity?

Power Finance & Risk | July 03, 2019

This story features New York City Project Finance and Public Finance partner Ellen Friedman discussing the view within the tax equity community about alternative investment structures for tax credits resulting from carbon capture activity. 

Rhode Island Infrastructure Bank to sell drinking water bonds

The Bond Buyer | June 12, 2019

This article mentions Nixon Peabody as bond counsel for the sale of $42.3 million in fixed-rate safe drinking water bonds.

Cook County mulls securitization as revenue bonds face pressure

The Bond Buyer | June 11, 2019

New York City Financial Restructuring and Bankruptcy partner Robert Christmas is quoted in this story for his role as counsel to the city of Chicago in a tax securitization matter. Cook County may now emulate the securitization structure Chicago used.

Nixon Peabody boosts infrastructure reach through Squire Patton Boggs hires

The Bond Buyer | June 11, 2019

This feature highlights the arrivals of New York City partner Chris Reitzel and Albany counsel Jeff Pohl to Nixon Peabody’s growing Project Finance and Public Finance practice group.

MWAA's Dulles Toll Road deal prices; more muni supply on the way next week

The Bond Buyer | June 06, 2019

This article mentions Nixon Peabody as bond counsel to Metropolitan Washington Airports Authority’s sale of $164.31M revenue refunding bonds.

A deal to note: Los Angeles County sells $700M of TRANs in negotiated deal

The Bond Buyer | June 06, 2019

Nixon Peabody is mentioned in this story as bond counsel to Loudon County, Virginia’s sale of $170.37 million in GO public improvement bonds.

2019 Excellence in Law Award winners

The Daily Record | April 18, 2019

Several colleagues in Nixon Peabody’s Rochester office were recognized by the Daily Record as part of this year’s Excellence in Law Awards. Corporate counsel Anita Pelletier was named one of the Top Women in Law. Project Finance and Public Finance associate Jessica Paulin and Corporate associate Kat Murphy were chosen as Up and Coming Attorneys. Records coordinator Nancy Lopez was honored as an Unsung Legal Hero.

Career Tracker Lawyers on the Move

Reuters Legal | April 14, 2019

The recent additions of New York partner Chris Reitzel  and Albany counsel Jeff Pohl to Nixon Peabody’s Project Finance & Public Finance team are highlighted in Reuters Legal’s Career Tracker column.

Federal Tax Reform May Be Saving Money for States, Even High-Tax Ones

Governing.com | April 11, 2019

This article about the federal tax reform’s impact on states quotes Los Angeles Project Finance and Public Finance partner Rudy Salo discussing the long-term effects it may have on government debt and how voters may react to bonds in the future.

Movers & Shakers

The Deal | April 07, 2019

The additions of New York City partner Chris Reitzel and Albany counsel Jeff Pohl to Nixon Peabody’s growing Project Finance and Public Finance practice group are highlighted in this article.

Nixon Peabody hires two from Squire

Project Finance International | April 03, 2019

The additions of New York City partner Christopher Reitzel and Albany counsel Jeffrey Pohl to Nixon Peabody’s growing Project Finance and Public Finance practice group are highlighted in this

IRS acknowledges some bond audits are erroneously selected

The Bond Buyer | March 11, 2019

This article recaps the recent National Association of Bond Lawyers panel on bond audits. Washington, DC Project Finance and Public Finance partner Bruce Serchuk, who served as the panel’s moderator, is quoted discussing best practices on when to send documents to the IRS.

Municipal bonds: The antidote for those retail investors on a low-SALT diet

The Bond Buyer | March 11, 2019

In a trends article on the municipal bond market, Nixon Peabody is mentioned as bond counsel to the New York Metropolitan Transportation Authority’s anticipated $750M sale of Series 2019A dedicated tax fund bond notes.

Bond Buyer’s Top 10 of 2018

The Bond Buyer | December 20, 2018

The Bond Buyer’s story on the arrival of New York City Project Finance and Public Finance partner Roddy Devlin at Nixon Peabody was the third most-read article of 2018.

BAML, PFM maintain top positions in rankings in slower muni market

The Bond Buyer | October 04, 2018

Project Finance and Public Finance practice group leader Ken Lind, based in New York City, is quoted in this story on Q3 and Q4 bond issuance activity and the impact of the new Secured Overnight Financing Rate (SOFR).

Design-build a vehicle to fix New York City’s highway to hell

Bond Buyer | October 01, 2018

New York City Project Finance & Public Finance partner Roddy Devlin is quoted in this story about the advantages of using a design-build model for the pending reconstruction of a portion of the Brooklyn-Queens Expressway.

Garden State law to advance P3s, but obstacles remain

Inframation News | October 01, 2018

New York City Project Finance & Public Finance partner Roddy Devlin is quoted in this article about new legislation in New Jersey designed to expand to state’s ability to improve infrastructure through P3 projects.

The Daily Record announces 2018 Attorneys of the Year

The Daily Record | September 25, 2018

Rochester Project Finance and Public Finance partner Bill Weir has been named as one of western New York’s “Leaders in Law” as part of The Daily Record’s 2018 Attorneys of the Year awards. Nixon Peabody also won the inaugural Pro Bono Award.

MTA deal leads municipal market into SOFR era, away from LIBOR

Bond Buyer | September 25, 2018

Nixon Peabody is mentioned in this article as co-bond counsel for a recent SOFR-linked offering of $107.3 million in bonds by New York’s Metropolitan Transportation Authority.

Health systems' scale not linked to better revenue

Modern Healthcare | September 11, 2018

In this article on a study by Navigant Consulting that explores the size of health systems and their revenue, Chicago Project Finance and Public Finance partner Tom Fahey is quoted for his outlook on M&A activity.

New York's MTA plans $220 million green bond sale one week after downgrade

Bond Buyer | August 14, 2018

Nixon Peabody is mentioned in this article as co-bond counsel for a planned sale of $220 million of Series 2018B transportation revenue refunding green bonds by the Metropolitan Transportation Authority.

How autonomous vehicles disrupt transportation planning

The Bond Buyer | July 26, 2018

Los Angeles Project Finance and Public Finance partner Rudy Salo is quoted in this article on how autonomous vehicles will impact the future of transportation planning.

Cautious welcome for NJ P3 bill

P3 Bulletin | July 25, 2018

New York City Project Finance and Public Finance partner Roddy Devlin is quoted in this article discussing a recent bill passed by New Jersey legislators that could increase the frequency of public-private partnership (P3) projects.

The Jetson effect on transportation

The Bond Buyer | July 23, 2018

Los Angeles Project Finance and Public Finance partner Rudy Salo provides his perspective on how driverless cars will impact mass transit planning in this Bond Buyer podcast.

LaGuardia AirTrain RFQ expected to be issued by year end

InfraAmericas | June 26, 2018

New York City public finance and project finance partner Roddy Devlin is quoted in this article discussing the advantages of using a public-private partnership to complete “key public projects that have to be brought in on schedule.”

U.S. airports on the runway

Project Finance International | June 25, 2018

Project Finance and Public Finance partner Roddy Devlin, together with group leader Ken Lind and partner Virginia Wong, all from New York City, contributed this article on the increasing usage of the P3 model in U.S. infrastructure projects.

Podcast: The art of the P3

The Bond Buyer | June 21, 2018

New York City public finance and project finance partner Roddy Devlin is a guest on the Bond Buyer podcast and shares his experience in public-private partnerships, infrastructure and design build; and discusses Nixon Peabody’s strength in the growing P3 sector.

Treasury IRS propose rules to facilitate investment in bond-financed infrastructure

Bond Buyer | June 11, 2018

Washington, DC, project finance and public finance partner Mitch Rapaport is quoted in this article on a move by the Treasury Department and IRA to clarify rules governing “the use of tax-exempt bonds in connection with public-private partnership projects.”

Nixon Peabody scoops up P3, project finance pro in NY

Law360 | May 24, 2018

Media coverage of the arrival of New York City public finance and project finance partner Roderick “Roddy” Devlin continues with this profile in Law360, which highlights some of Roddy’s largest recent deals, including the $4 billion public-private partnership to upgrade New York’s LaGuardia Airport.

Nixon Peabody beefs up NY real estate group with new partner, new practice

American Lawyer | May 23, 2018

Affordable housing and real estate partner Erica Buckley and project finance and public finance partner Roddy Devlin are both quoted in this article announcing an expansion of our real estate practice in New York City.

I-66—Largest greenfield U.S. toll road

Project Finance International | December 18, 2017

Nixon Peabody is mentioned in this article for serving as bond counsel to the private activity bonds issued by the Virginia Small Business Financing Authority.

Engie sparks off-grid light-bulb

Project Finance International | October 31, 2017

In an article on the expansion of off-grid solar power companies in Africa, Nixon Peabody is mentioned for advising PEG Africa in its $13.5M multi-currency syndicated loan.

Why Dealers are Struggling with Proposed Markup Disclosure

The Bond Buyer | September 22, 2016

Los Angeles public finance partner Rudy Salo is quoted in this feature story discussing the struggle facing dealers as they try to comply with the Municipal Securities Rulemaking Board's proposed markup disclosure requirements.

Contacts

Richard M. Cogen

Partner
Co-leader, Energy and Infrastructure Projects Team

rcogen@nixonpeabody.com

Phone: 212-493-6639

Ellen S. Friedman

Partner
Co-leader, Energy and Infrastructure Projects Team

efriedman@nixonpeabody.com

Phone: 212-940-3053

Scott R. Singer

Partner

ssinger@nixonpeabody.com

Phone: 212-940-3182

  • Recognized by U.S. News-Best Lawyers 2019 as a national Tier 1 leader for Public Finance Law
  • Consistently ranked by Thomson Reuters among the top bond counsel and underwriter’s counsel in the country, and among the most active disclosure and special tax counsel
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