Milbank LLP received recognition for three TXF “Perfect 10 Deal of the Year” Awards at the TXF Global 2023 Export, Agency and Project Finance ceremony held on June 15-16 in Lisbon, Portugal.
Out of the ten transactions recognized, three Milbank transactions were honored in the following categories, exhibiting a breadth of global experience across key regions:
- TXF Perfect 10 Europe Deal of the Year – SK On Hungary Gigafactory: Milbank advised The Export–Import Bank of Korea, Korea Trade Insurance Corporation, Euler Hermes of Germany, and a consortium of international commercial banks in connection with a US$2 billion financing for SK On’s latest Gigafactory plant in Ivancsa, Hungary.
- TXF Perfect 10 Latin America Deal of the Year – Araguaia Nickel Mine: Milbank advised the commercial lenders and export credit agencies, including EKF of Denmark, Finnvera of Finland and SEK of Sweden, in connection with a senior debt financing package for the development of the greenfield Araguaia Nickel Project in Brazil sponsored by Horizonte Minerals PLC. The financing was also recognized as “Global Mining Deal of the Year” by Mines and Money.
- TXF Perfect 10 Asia Deal of the Year – Karawang EV Battery Manufacturing Project: Milbank advised Korea Trade Insurance Corporation and a consortium of international commercial banks in connection with a US$711 million term loan to a joint venture by LG Energy Solution, Ltd., Hyundai Mobis Co., Ltd., Hyundai Motor Company and Kia Corporation to build an electric vehicle (“EV”) battery cell plant in a new industrial complex in the Karawang region, east of Jakarta, Indonesia.
Global Projects, Energy and Infrastructure Finance partner Alec Borisoff noted: “We are pleased to be recognized for our work on these innovative financings involving the entire energy transition value chain. Milbank regularly acts on the most sophisticated projects around the world on behalf of government agency lenders, and these awards highlight our continuing dedication to client service and the seamless collaboration of the global Milbank team on some of the most challenging projects of this past year.”
Milbank has a long-standing reputation advising government agency lenders on some of the largest and most complex project financing transactions around the world, and is consistently recognized by Chambers as a preeminent firm in the Projects – Agency Financings category.
