Russian and international rating agencies recognize the Public-private partnership practice of INFRALEX as one of the best within Russian market. According to the estimates of PRAVO300 INFRALEX is No. 1 Russian law firm in this field. INFRALEX partners Dmitry Ivanov, Maxim Chernigovsky and Alexey Popov are particularly recommended by Best Lawyers, Legal500 and IFLR1000. Lawyers of the firm are among the authors of bills and legislative initiatives in the field of PPPs.
INFRALEX services for the preparation and maintenance of PPP projects include:
Structuring PPP projects, development of organizational and legal models of projects
The uniqueness of INFRALEX expertise is in the organic integration of PPP instruments into the client 's business. Our approach is based on global best practices and real experience of their implementation in Russia and the CIS. Our clients are range from high-tech companies wishing to apply their technical developments to solving national problems, construction holding groups interested in major contracts in the field of infrastructure projects, developers and professional investors.
INFRALEX project structuring services consist of the following:
- Analysis of project goals and objectives, project economy, market situation, statutory and regulatory control, identification of sources of financing, mechanisms of return of investments, assessment of possibility of attracting loan financing, assessment of project risks
- Review and comparative analysis of possible models of project implementation taking into account the experience of similar projects implementation in Russia and globally, the total cost of the project, optimal risk distribution, the need to change the statutory and regulatory control
- Selection of the optimal organizational and legal model that secures the structure of the future transaction chosen by the client
- Development of the main provisions of the key agreement, as well as formation of the general contractual model of the project, the chart of capital and property movement, risk distribution among the participants of the transaction
- If necessary, develop the framework for changing the legislation to ensure the implementation and control of the PPP project
Preparation and coordination of tenders for the right to enter into concession agreement, PPP agreement
INFRALEX not only provides support for the participation of private clients in competitions for the right to enter into a concession agreement, a PPP agreement, but also helps the public sector to develop the conditions of competitions that enable the choice of the optimal private partner for the PPP project.
For the public party, INFRALEX performs the following services:
- Development of investment memorandum
- Preparing and running the project roadshow
- Development of competition criteria
- Preparation of tender documentation, including drafting the agreement that is concluded on the basis of the results of the tender
- Support of the tender procedures, including review of the tender documentation submitted by the participants for compliance with the tender requirements
- Support for commercial and financial closing negotiations
For private clients, INFRALEX provides support for:
- Creating a special project company (SPC) and ensuring that said SPC, as a bidder, meets the qualification requirements
- Preparation and submission of the application, tender proposal
- Commercial closing negotiations
- Negotiations with funding organizations and financial closing of the transaction
Support of private concession initiative (PCI) procedures
PCI is a procedure for concluding a concession agreement without holding a tender on the basis of a proposal by a private party that shall be the future concessionaire. PCI allows to significantly accelerate the launch of the concession project and to reduce the costs of competitive procedures for both public and private parties.
INFRALEX provides support for transactions under PCI procedures for both private and public parties.
For the private party, INFRALEX provides the following services:
- "Design of the deal": preparation of the organizational and legal framework, including contractual model development, reducing risks of the initiator of the deal and ensuring its competitive advantages over potential bidders
- Support for preliminary discussion of the concession agreement with the public party that is the intended grantor, as well as with financing organizations, co-investors, other interested parties
- Preparation of the proposal for the concession agreement, including an agreed upon draft of the concession agreement
- Support for negotiations regarding the terms of the concession agreement from the side of the initiator
- Providing support for the commercial and financial closing procedures
For the public party, INFRALEX provides the following support for PCI procedures:
- Forming a negotiating group, including specialists and responsible officials of all relevant competences
- Developing the overall negotiation strategy of the customer, including initial negotiation position, boundary conditions, etc.
- In cooperation with other consultants and experts, preparing a well-reasoned position of the client for negotiations
- Enacting organizational measures: preparing the agenda of negotiations, minutes, non-concurrence statements, conducting communication
- Ensuring iterative work such as consolidation of negotiated positions within key PPP project agreements and further implementation of these provisions in main agreements and secondary and tertiary covenants
Support for financial closing of PPP project transactions
To ensure the financial closure of projects, INFRALEX provides the following services:
- Development of a project financial risk management model through contractual arrangements
- Support of negotiations with co-investors and financing organizations
- Development and coordination with the parties to the concession agreement or PPP agreement on the clarification of the terms of the agreement proposed by the funding organizations
- Support for negotiations on the conclusion of the direct agreement between the concession grantor and the funding organizations
- Drafting legal opinion for the funding organizations to enable the decision on funding
- Providing support for the execution of the documents related to the financial closure of the transaction