Mike has 30 years of experience representing parties in the development, construction, acquisition, divestment, and financing of infrastructure projects around the world.
His work spans a broad range of projects and industries, including:
He works on projects around the globe, including the U.S., Canada, Mexico, Brazil, Chile, Bolivia, Peru, Venezuela, the Bahamas, Angola, Nigeria, China, India, Japan, Indonesia, the Philippines, Kazakhstan, Vietnam, and Papua New Guinea.
Mike is a go–to lawyer for many of our clients in the projects and infrastructure space across a broad range of transactional matters. According to clients, he has an “impressive practice” and a “reputation for excellence.”
Freeport LNG Liquefaction FacilityRepresented Osaka Gas Co., Ltd. and Chubu Electric Power Co., Inc. in the $1.2 billion equity financing and $3.1 billion debt financing for the first liquefaction train of the Freeport LNG facility – the Americas Project Deal of the Year – and in their entry into of a long–term LNG liquefaction tolling agreement for the project.
Caserones Copper and Molybdenum Mining Project.Represented SCM Minera Lumina Copper Chile in connection with the $1.4 billion limited recourse project financing for the development of the Caserones Copper and Molybdenum Mining Project in Chile. Minera Lumina is 75% owned by Pan Pacific Copper (which is a joint venture of JX Holdings, Inc. and Mitsui Mining & Smelting Co., Ltd.) and 25% owned by Mitsui & Co., Ltd. The financing consisted of a $1.1 billion senior facility provided by JBIC and a group of commercial banks that received the benefit of a NEXI guaranty, and a $300 million junior facility provided by a group of commercial banks that received a guaranty from JOGMEC.
Sierra Gorda Copper and Molybdenum MineRepresented Sumitomo Metal Mining Co., Ltd. and Sumitomo Corporation in a $320 million junior facility provided by a group of commercial banks that received the benefit of a JOGMEC guaranty. The junior facility will be used by such entities to provide sponsor funding for the development of a large copper and molybdenum mine under development in the Sierra Gorda district of Chile.
Mexican Power Stations and Pipeline Acquisition.Represented Mitsui & Co., Ltd. and Tokyo Gas Co., Ltd. in their $1.2 billion acquisition of a controlling interest in five gas–fired combined cycle power stations in Mexico with an aggregate total generating capacity of 2,233MW and a related gas pipeline company, and in connection with the financing for such acquisition.
San Cristobal Mining Project.Represented Sumitomo Corporation in its purchase, development, financing and operation of Minera San Cristóbal S.A., which owns and operates one of the largest silver, zinc and lead mines in the world, located high in the Andes in Southwestern Bolivia. Sumitomo purchased a portion of its interest in a pre–arranged bankruptcy sale that closed within 71 days of the debtor's bankruptcy filing.
South Texas Nuclear Power Project Units 3 & 4.Represented Toshiba America Nuclear Energy Corporation (TANE) in its role as EPC contractor for the design and construction of a two unit, 2,800 MW Advanced Boiling Water Reactor nuclear power plant at the South Texas Project in Texas. Also representing TANE in connection with a vendor financing credit facility made available to one of the owners of the new units at the South Texas Project.
Taiwan High–Speed Rail Project.Represented a consortium consisting of Mitsui & Co., Mitsubishi Heavy Industries, Toshiba, Mitsubishi Corporation, Sumitomo Corporation, Marubeni, and Kawasaki Heavy Industries as supplier and contractor for the Trackworks portion of the $15–billion Taiwan High–Speed Rail Corporation.
Valladolid III IPP Project, Mexico.Represented the Valladolid III Consortium (Mitsui and Chubu Electric) in the development and financing and ongoing operations of the 525 MW Valladolid III natural gas–fired electrical power facility in Mexico.
KEPCO Ilijan IPP Project, Philippines.Represented Japan Bank for International Cooperation and Ministry of Economy, Trade, and Industry in financing of $700–million KEPCO Ilijan IPP Project, a 1,200 MW gas–fired combined–cycle power plant under construction in Philippines, and representing BNP Paribas as Administrative Agent for lenders. Transaction named Asian Project Finance Deal of the Year.
El Bajio IPP ProjectRepresented Tokyo Gas in the purchase of an interest from InterGen in the El Bajio IPP Project in Mexico. This Project is unique in that the Project Company has the ability to directly sell excess capacity to industrial offtakers. We conducted a full–scale due diligence review for the purchaser and negotiated the terms of the acquisition agreement and shareholders' agreement.
Manzanillo LNG Regasification Terminal.Represented bidder for contract to build, own, and operate 500mcfd LNG regasification terminal to be located in Manzanillo, Mexico.
Mexican Renewable Power Project JV. Representing utility in its ongoing purchase of 50% of a portfolio of 6 solar and wind power projects (for a total of 721 MW) currently under development in Mexico.
OneWeb Global Communications Satellite Network. Represented SoftBank as a lender and offtaker for OneWeb’s under–development low–earth–orbit constellation of 600 satellites to provide global connectivity.
Philippine LNG Regasification Terminal. Representing Tokyo Gas Co., Ltd. in a joint development agreement with First Gen Corp. to pursue the development of an LNG import and regasification terminal project in Batangas province, the Philippines.
Freeport LNG Liquefaction Facility. Represented Osaka Gas Co., Ltd. and Chubu Electric Power Co., Inc. in the $1.2 billion equity financing and $3.1 billion debt financing for the first liquefaction train of the Freeport LNG facility and in their entry into of a long–term LNG liquefaction tolling agreement for the project. The transaction was awarded Global Finance Deal of the Year: Project Finance by American Lawyer, Deal of the Year for the Americas by Project Finance International, and North American Oil & Gas Deal of the Year by IJ Global.
Caserones Copper and Molybdenum Mining Project. Represented SCM Minera Lumina Copper Chile in connection with the $1.4 billion limited recourse project financing for the development of the Caserones Copper and Molybdenum Mining Project in Chile. Minera Lumina is 75% owned by Pan Pacific Copper (which is a joint venture of JX Holdings, Inc. and Mitsui Mining & Smelting Co., Ltd.) and 25% owned by Mitsui & Co., Ltd. The financing consisted of a $1.1 billion senior facility provided by JBIC and a group of commercial banks that received the benefit of a NEXI guaranty, and a $300 million junior facility provided by a group of commercial banks that received a guaranty from JOGMEC.
Cricket Valley Gas–Fired Power Project. Represented JERA Co., Inc. as the largest investor in a $1.58 billion, 1,100 MW natural gas–fired thermal power generation project, referred to as "Cricket Valley," in Dutchess County, New York. JERA owns an equity stake of approximately 44% in the project. We also represented them in connection with a $1.052 billion senior secured facility to the project company, a $175 million senior secured term loan facility to an interim holding company, and $709 million in total equity commitments for the project.
Mexican Power Stations and Pipeline Acquisition. Represented Mitsui & Co., Ltd. and Tokyo Gas Co., Ltd. in their $1.2 billion acquisition of a controlling interest in five gas–fired combined cycle power stations in Mexico with an aggregate total generating capacity of 2,233MW and a related gas pipeline company, and in connection with the financing for such acquisition.
San Cristobal Mining Project. Represented Sumitomo Corporation in its purchase, development, financing and operation of Minera San Cristóbal S.A., which owns and operates one of the largest silver, zinc and lead mines in the world, located high in the Andes in Southwestern Bolivia. Sumitomo purchased a portion of its interest in a pre–arranged bankruptcy sale that closed within 71 days of the debtor's bankruptcy filing.
Taiwan High–Speed Rail Project. Represented a consortium consisting of Mitsui & Co., Mitsubishi Heavy Industries, Toshiba, Mitsubishi Corporation, Sumitomo Corporation, Marubeni, and Kawasaki Heavy Industries as supplier and contractor for the Trackworks portion of the $15–billion Taiwan High–Speed Rail Corporation.
Valladolid III IPP Project, Mexico. Represented the Valladolid III Consortium (Mitsui and Chubu Electric) in the development and financing and ongoing operations of the 525 MW Valladolid III natural gas–fired electrical power facility in Mexico.
Michael Graffagna is ranked as a leading lawyer in Japan in Projects and Energy by The Legal 500 Asia Pacific (2019), Chambers Global (2018), Chambers Asia Pacific (2019), IFLR1000 (2019) and Best Lawyers in Japan (2019).
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