Project Finance/PPP

Our Construction & Engineering Department advises in relation to all aspects of construction in Ireland with specialist expertise in Public Private Partnerships (PPPs) in the Republic of Ireland and Private Finance Initiatives (PFIs) in Northern Ireland.

As part of a multi-disciplinary team our banking lawyers work on the financial aspects of any deal, advising stakeholders, banks, bidders, promoters and spv's.

William Fry’s experience includes projects in the road, light rail, health, gas, power, airport, education, wind and other renewables, urban development and prison service sectors.

Financing options include project bonds, securitisation, portfolios financing, senior debt, mezzanine debt, EIB financing restructuring, investment funds and derivative products.  We also advise on co-financing involving multiple funding sources.

 

Our experience includes advising:

Chartered Land on Dublin Central Development, mixed use commercial property regeneration, anticipated capital development cost €1bn – one of Europe’s largest developments.

Point Village Development Limited on Point Village including 02 theatre, hotel, offices, retail, civic attractions and Luas infrastructure – one of the largest developments in Ireland.

University College Dublin on Gateway development – largest single capital project in higher education sector - international star-architect design competition and construction procurement using a PPP concession model.

Ramford on development of Daniel Libeskind designed office led development and theatre at Grand Canal Square - ‘Development of the Year 2008’

Dublin City Council on Fatima Mansions Regeneration PPP Project and developing legal model for such projects

University Pittsburgh Medical Center advising key stakeholder and named operator on three of the HSE Co-Location Hospitals Projects

Atlantic Fuel Supply Company on construction and financing of major oil storage and processing facility at Foynes Port

Aughinish Alumina Limited on all aspects of the procurement, construction and delivery of its 160MW gas fired combined heat and power plant adjacent to its alumina refinery

Leargas consortium (Barclays Private Equity, Michael McNamara & Co) and GSE (the UK Prison operator) on the Thornton Hall Prison PPP project, a project for the design, build, part operation and maintenance of a state of the art prison facility.

Syndicate of Lenders financing the N4/N6 Kinnegad-Kilcock, the funders of Eurolink, one of the two BAFO bidders on the M1 Dundalk Western Bypass and advised the funders on the East Link Toll Bridge concession.

EIB on the Five Group Schools PPP project.

Bank of Ireland as senior lender to E-net, the Limerick based technology company which was awarded the MSE (Management Services Entity) contract by the Department of Communications, Marine and Natural Resources to manage Ireland’s first regional broadband infrastructure, involving the establishment of Metropolitan Area Networks (MANS), comprising duct and fibre band around 19 cities and towns.

 

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We are consistently ranked as one of the leading Banking & Financial Services law firms in Ireland.

Department

  • "They are very easy to deal with, you can pick up the phone to any of them and they are quick to come back and respond, even on small queries. They are very thorough, client friendly and they put time into developing the relationship". An interviewee appreciated that "the client service was very strong, they had an excellent understanding of the transaction and they showed good responsiveness to requests". Chambers Europe 2019
  • One happy client says: "Their legal expertise, service levels and business-friendly approach sets them apart. I have recommended the team to other parties and continue to do so." Another source notes: "The firm is committed to its clients and develops strong relationships with them." Chambers Europe 2018
  • "They were very commercial on complex deals, extracted the important parts, were very proactive and made sure that nothing slipped away." Clients also point out that "they have a nice house style: professional, friendly and courteous."Chambers Europe, 2017 
  •  "The lawyers took a personal interest in the work and the overall objective was always in their minds. There was a big team offering a lot of strength throughout." 
    "This firm had the size and skills to handle a particularly complex transaction, and the commitment to throw the necessary resources at the job." 
    Chambers Europe 2016
  • William Fry is an "excellent practice". Legal 500 EMEA 2016
  • "The team provides a good-quality service and gets the project done."  Chambers Europe 2015
  • William Fry provides ‘proactive service’ and ‘sensible advice that gets to the heart of the commercial issues’ through its ‘highly knowledgeable partners’. Legal 500 EMEA, 2015
  •  "The lawyers have real strength in managing and driving the process and can see the wood for the trees and negotiate the key clauses very hard."   "The team does the really complex work with both speed and efficiency." Chambers Europe 2014
  • "The team provides complete asset finance solutions in an effective and timely manner."  Chambers Europe, 2013

Team

  • Elaine Hanly
    • William Fry excels in real estate finance, where practice head Elaine Hanly is‘an excellent and thorough banking lawyer’. Legal 500 EMEA 2017
    • Elaine Hanly receives praise for her pragmatic approach: "She manages to distil the advice from a technical legal point of view into a business suggestion." Chambers Global 2015 
    • Elaine Hanly’s team at William Fry provides ‘proactive service’. Legal 500 EMEA, 2015 
    • Elaine Hanly is a "a top lawyer, a great operator, with a fast turnaround. She works all day and night to get the job done". Chambers Europe 2014
  • Rachel Stanton
    • According to clients, Rachel Stanton is "very detail-oriented, has a commercial outlook and is excellent to deal with."  Chambers Global 2017
    • Rachel Stanton is ‘great at dealing with difficult situations’ in acquisition finance. Legal 500 EMEA 2017 
    • Rachel Stanton is an increasingly well-known partner in the firm's banking team, thanks to her "great work ethic" and "very commercial and solution-oriented" style of practice. Chambers Global 2016
    • Rachel Stanton draws praise for her business understanding, with one interviewee saying: "She gives a quick turnaround but with practical and commercial solutions." Chambers Global, 2015
    • Rachel Stanton provides ‘reliable and highly professional counsel’. Legal 500 EMEA, 2015
    • Rachel Stanton is "very pleasant to deal with and someone who, from the very outset, had a strong plan for the process. She understood our initial position and fallback position and is very strategic." Chambers & Partners, 2014
    • Rachel Stanton is described as ‘very commercial, efficient and knowledgeable’. Legal 500 EMEA, 2013
  • David Maughan
    • Clients say that David Maughan is "very approachable, responsive, easy to worth with, commercial and pragmatic." Chambers Global 2017
    • David takes an “excellent commercial approach”. IFLR 1000 2017
    • David is renowned for his experience of mandates in the aviation sector, as part of a wider structured finance practice. Sources say: "His advice is top-notch, and his communication is strong." Chambers Europe 2016 
    • David Maughan heads the aviation and asset finance division of the team. Sources comment that "he looks at the transaction as a whole and is therefore able to offer advice on a more general as well as Irish-specific level." Chambers Global, 2015 
    • David Maughan is ‘excellent on all counts’Legal 500 EMEA, 2015
    • David Maughan heads the aviation and asset finance group at the firm. He is widely recognised as an expert in aviation law. Chambers & Partners, 2014

 

Key Contacts

Elaine Hanly Partner

Rachel Stanton Partner

Fergus Devine Partner