Covington & Burling LLP operates as a limited liability partnership worldwide, with the practice in England and Wales conducted by an affiliated
limited liability multinational partnership, Covington & Burling LLP, which is formed under the laws of the State of Delaware in the United States
and authorized and regulated by the Solicitors Regulation Authority with registration number 77071..
With a broad corporate transactional practice, Bradford McCormick advises clients on strategic cross-border and domestic investments and dispositions, debt and equity financing transactions and sophisticated contractual matters. Bradford’s practice is focused primarily on the energy and infrastructure industries, and he regularly represents sponsors, investors, developers and lenders in the development, financing, construction, operation, acquisition and sale of energy and infrastructure projects, including:
solar, wind and other renewable power generation;
natural gas and other conventional power generation;
batteries and other energy storage technologies;
electric transmission and distribution;
cogeneration and district heating and cooling;
waste-to-energy;
biofuels;
water and wastewater;
transportation; and
liquefied natural gas (LNG).
Bradford has counseled clients in all phases of the project life cycle, up through and including exits and workouts, and he has advised bidders and proponents with respect to public-private partnership (P3) transactions. He has experience with numerous financing structures, including project-level bank debt, Term Loan B facilities, tax equity, back-leverage financing, holding company financing, agency financing, private placements and joint ventures.
Bradford also represents corporate borrowers and issuers, private equity sponsors and their portfolio companies, financial institutions and direct lenders in corporate finance transactions, including syndicated, club and direct acquisition financings, working capital and letter of credit facilities, recapitalizations, refinancings and debt private placements.
Advised the owner/operator of a cogeneration and district heating and cooling project on contractual matters with respect to planned upgrades.
Advised the LUMA Energy consortium as successful bidder to operate and maintain the electric transmission and distribution system of the Puerto Rico Electric Power Authority.
Advised a U.S. producer of consumer hygiene products with respect to a strategic partnership and offtake and engineering documentation for plant upgrades to support production of a critical supply chain ingredient.
Advised the arranger, agent, issuing bank and lenders in a first of its kind project financing of a portfolio of behind-the-meter battery storage systems located at host sites in Southern California Edison’s service area.
Advised a private water utility in negotiation of a 20-year agreement to manage, operate and maintain a large municipal wastewater system in the northeastern U.S.
Advised a project developer as sponsor in a $310 million tax equity and construction/bridge loan financing of a 238 MW solar generation project in Texas.
Advised an investor-owned utility as sponsor in a $245 million tax equity financing of a 198 MW wind generation project in Oklahoma.
Advised a U.S. private equity sponsor and its South African portfolio company in the development and project financing of a wind farm and two solar energy facilities in South Africa, and subsequent sale of all three projects to a U.S. yieldco.
Advised an investor-owned utility as sponsor in a private placement of $150 million of senior secured notes and the establishment of a letter of credit and working capital facility to finance a 256 MW portfolio of seven wind and solar power generation projects located in five U.S. states.
Advised a private water utility as issuer in five debt private placements totaling approximately $1.1 billion, and advised with respect to covenant compliance and related internal restructurings of the company’s regulated and non-regulated North American utility businesses.
Advised an investor-owned utility in the auction sale of an 800 MW gas-fired combined cycle power plant in the northeastern U.S.
Advised an energy trading company in the auction sale of an 82 MW gas-fired combined cycle power plant in the northeastern U.S.
Advised an international energy company in the acquisition of a 50% stake in an offshore wind farm project under development off of Massachusetts.
Advised an investor-owned utility in the auction sale of a contractor specializing in construction and maintenance of underground high voltage transmission cable and distribution infrastructure for electric utilities.
Advised a European renewable energy project developer and operator in its acquisition of three operational solar projects in Massachusetts with existing tax equity and SREC financing.'
Advised a European development finance institution as lead lender in the financing of a deep sea port grain terminal in Argentina.
Advised Telefónica S.A. in the $345 million sale of Television Federal S.A. (Telefe) in Argentina to Viacom, Inc.
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