Hunton & Williams LLP has long been recognized as a leader in advising clients in the development and financing of infrastructure projects. Railroad companies were among our first clients and we have built important relationships within the transportation industry over many years. Based on this experience, we have become an authority on transportation infrastructure and today provide a full range of legal services in the development, financing and leasing of transportation facilities and equipment.
Transportation infrastructure projects can be complex, often involving participants from both the public and private sectors having different perspectives and approaches to projects. We have the proven ability to assist our clients in reconciling these differences so that these transactions can be completed successfully and efficiently.
Hunton & Williams' Transportation Infrastructure Group adopts a multi-disciplinary approach to the provision of legal services for our clients. A relatively small core group of corporate and municipal finance lawyers devote substantial portions of their practices to transportation infrastructure, drawing upon the firm's broad resources in practice areas as needed depending upon the complexity and geographic location of particular projects. See "Practice Areas" below.
Awards and Rankings
In 2010, listed in Chambers Global Guide (USA Projects: Infrastructure)
In 2009, earned nationwide top tier ranking in Chambers USA for Projects and Infrastructure.
In 2008, earned nationwide top tier ranking in Chambers USA Transportation: Road (Infrastructure).
Infrastructure Journal "Transport Deal of the Year," 2008, awarded to the Capital Beltway 495 HOT Lanes Project. Hunton & Williams served as bond counsel and issuer's counsel to Virginia's I495, Capital Beltway HOT Lanes Public-Private Partnership (PPP).
Infrastructure Journal League Table, Full Year 2008: Ranked 17th in Transport Sector -- Legal Advisors and Global Transactions -- Legal Advisors.
Representative Projects and Types of Assets
Highways and Bridges
We represented an investment banking firm in connection with the refinancing of senior debt for The Dulles Greenway, a start-up privately owned and operated toll road in Northern Virginia.
We served as bond counsel in connection with the issuance of private activity bonds for the I-495 Capital Beltway HOT lanes project in Virginia.
We served as special project counsel and bond counsel in the development and financing of the U.S. $350 million Pocahontas Parkway (Route 895 Connector), a bridge and toll road project in Richmond, Virginia.
We served as special finance, tax and Florida law counsel to a private sponsor for the I-595 Toll Road Project in Florida.
Airports and Airlines
We represented the City of Atlanta, Georgia, in the issuance of more than U.S. $1 billion in tax-exempt, general revenue and refunding bonds for a runway expansion and related improvements at Hartsfield Atlanta International Airport.
We served as bond counsel for the two-airport system that provides domestic and international air service for the mid-Atlantic region in the issuance of U.S. $252.9 million in flexible term PFC revenue notes.
Rail Equipment and Aircraft
Worldwide, the firm has represented issuers, equity investors, lenders and lessees in domestic and cross-border financings of locomotives, rail cars, aircraft and other transportation equipment valued in excess of US $30 billion.
Shipping
We have represented lessees and equity investors around the globe in the chartering of oil and chemical tankers, cargo ships, deep-water drilling ships, cable-laying ships and car/passenger ferries.
Practice Areas
Structuring and Strategic Planning
We advise clients regarding federal and state grants, loans and other aid available for transportation projects.
We offer counsel regarding the authority of private owners and operators under enabling statutes authorizing public-private ventures.
We form special purpose entities and assist with the creation of structures that are tax-efficient and provide access to the capital markets.
Negotiations and Documentation
We draft and negotiate joint venture agreements, design-build contracts, indentures, leases and other project documents. We have been on all sides of these deals and know the points and the market.
Environmental
The reputation of our environmental lawyers in the United States and Europe is consummate. We advise on all aspects of environmental laws applicable to transportation projects. For example, in the United States, the National Environmental Policy Act (NEPA) governs the environmental impact of most surface transportation projects. Timely, sound advice regarding NEPA is critical to success.
Land Use, Construction and Real Estate
Our real estate lawyers are authorities in project development and construction, land use, condemnation, rezoning, special and conditional use permits, wetlands remediation and other real estate issues that pertain to surface transportation facilities.
Taxation
Our tax lawyers are authorities in corporate, partnership and limited liability company taxation, special tax districts, leveraged leasing and structured finance.
Capital Markets and Finance
More than 200 of our lawyers practice full-time in capital markets financings.
Our project finance, privatization and leasing practices are recognized worldwide.
Our U.S. public finance practice regularly achieves top national and regional rankings among recognized bond counsel firms.
Our experience representing the public and private sectors around the globe provides essential insights into the unique issues relating to public-private ventures and privatization.
Our asset securitization lawyers have represented clients in more than US $100 billion in asset-backed securities involving virtually every asset class securitized to date, including leases of aircraft, rolling stock and other equipment, and corporate, municipal and high-yield bonds.
Our capital markets lawyers have broad experience with all types of private and public equity and debt financings, including non-U.S. dollar transactions and Rule 144A offerings.
Debt Restructuring
Transportation projects involve financial risk, no matter how carefully they may be evaluated and structured. Our debt restructuring and bankruptcy lawyers bring experience and creativity to the restructuring and workout process. We represented the initial purchasers in refinancing the senior debt on the Dulles Greenway (a private toll road facility serving Dulles Airport in Virginia) when projected toll revenues were insufficient to support first-generation senior debt service. This was accomplished through the issuance of separate tranches of senior insured taxable revenue bonds to qualified institutional buyers in Rule 144A offerings.
Team Work
A hallmark of our firm is teamwork. We have the experience, resources and depth to quickly assemble teams of lawyers tailored to meet the client's specific needs.
