International legislation agency Norton Rose Fulbright served as authorized counsel to Consorcio Panamá Cuarto Puente, a consortium comprised of China Harbour Engineering Firm and China Communications Development Firm, in a US$1.42bn challenge financing for the fourth bridge over the Panama Canal.
The transaction consists of the securitization of government-backed fee rights often known as IPTs and the issuance of zero coupon senior secured notes. It’s the first financing involving IPTs within the worldwide capital markets.
The challenge features a cable-stayed bridge over the Panama Canal and two street interchanges, one to the west connecting the Pan-American Freeway to town of Arraiján and one to the east connecting the North Hall and Avenida Omar Torrijos in Panama Metropolis. The bridge may have a top of 75 meters over water stage with 350-meter spacing between its supportive columns to permit for the passage of present and post-Panamax vessels. The entire size of the primary bridge is roughly 845 meters between enlargement joints.
Norton Rose Fulbright’s São Paulo workplace led the group with help from London and the US.
The São Paulo group included Daniel Spencer, Caspar Davey, Cameron Royse and Arthur dos Santos. The London group included David Shearer, Rae Parsons, Matthew Hodkin, Regina Chan and Fareed Muhammed. The US group included Kim Caine (Washington, DC), Patrick Dolan, Kevin Prokup (New York), Arthur Kimball-Stanley (Austin) and Jason Goolsby (Dallas).
