The Firm represented the lead arrangers, led by Royal Bank of Canada, The Royal Bank of Scotland plc and Société Générale, in connection with a $667 million secured construction, term and letter of credit facility to Sharyland Projects, L.L.C. and represented affiliates of Prudential Insurance Company of America in connection with the purchase of $60 million of secured fixed rate notes from Sharyland Projects to finance in part the construction of 300 miles of high voltage transmission lines and four substations in the Panhandle and South Plains regions of Texas to be leased to Sharyland Utilities, L.P.

The Project is part of the Texas Competitive Renewable Energy Zones initiative that includes 2,400 miles of new transmission lines, substations and upgrades of existing lines to deliver electricity generated from renewable energy resources to load centers including Dallas, San Antonio and Houston.

Sharyland Projects is indirectly owned by Electric Infrastructure Alliance of America, L.L.C. Hunt Power, Marubeni Corporation, John Hancock Life Insurance (USA), TIAA-CREF and OPTrust Private Markets Group formed EIAA and Gas Infrastructure Alliance of America as REITs to invest in energy infrastructure and gas storage and delivery in the United States.  Sharyland Utilities is a regulated public electric utility owned by members of the family of Ray L. Hunt and managed by Hunter L. Hunt.

The Simpson Thacher team included Alan Brenner, Colette Pollitt, Jean Chen, Lauren Yoon and former associate, Jill Kalish (Banking & Credit); Amy Beller (Regulatory); Adeeb Fadil (Environmental); Mardi Merjian (Real Estate); Jonathan Goldstein and Danny Salinas (Tax); Olga Gutman (Funds); Andrea Wahlquist and Samantha Shipp (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); and J. Scott Dyer (Labor).  Corporate Paralegal Nicole Escobar also provided valuable assistance.

 

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