Chadbournes in Tunisian power deal

Chadbourne & Parke, Baker & McKenzie and Davis Polk & Wardwell and have completed a £480m deal to construct a power station expected to supply 25 per cent of Tunisia's electricity.

US firm Chadbourne & Parke acted for the sponsors on the deal, PSEG Global, Sithe Energies and the Marubeni Corporation, which formed a Tunisian company, Carthage Power, to complete the deal.

Lynne Gedanken, corporate partner at Chadbourne & Parke, led a team of four on the two-year deal.

Gedanken, based at the firm's London office, says: “We were referred by clients we have worked with before. The whole process went smoothly and the station will begin operating in two years.”

Baker & McKenzie structures and project finance partners Annie Williams and Peter Gaines headed the team acting for commercial banks Paribas and Sanwa Bank, which provided a loan for the project.

Corporate partner at Davis Polk & Wardwell, Waide Warner, represented the third lender to the project, The Export Import Bank of Japan.