Marten Olsson
Overview
Marten Olsson is a corporate partner in the New York office of Kirkland & Ellis LLP. Marten focuses his practice on financing of energy and infrastructure projects, in particular capital markets transactions. He advises clients on a wide range of financings and related matters, within and outside of the U.S., with an emphasis on renewable power (including wind, solar and geothermal facilities), conventional power and LNG facilities. In addition, Marten has experience in restructurings and acquisition financings, including in the energy and infrastructure sector.
Marten represents issuers, developers, investors, placement agents, initial purchasers, underwriters and lenders in a wide range of equity and debt financing transactions, including registered offerings, private placements pursuant to Rule 144A/Regulation S and Section 4(a)(2), acquisition financings and liability management transactions. Marten also provides advice and counsel to U.S. and non-U.S. issuers and investment banks related to U.S. securities laws, including general compliance matters, reporting requirements, and stock exchange governance and disclosure requirements.
Experience
Representative Matters
Prior to joining Kirkland, Marten was involved in the following matters:
Renewables/Energy Transition
- Represented a major banking institution, as lender and administrative agent, in connection with a US$365 million construction loan to finance Invenergy's construction of the 260MW Blooming Grove wind generation project in Illinois.
- Represented one of the largest power generating companies in the US in connection with its US$1.1 billion green loan financing for one of its wholly-owned subsidiaries which owns and operates 13 geothermal power plants in California.
- Represented a larger Canadian energy corporation in connection with the issuance of US$2.9 billion in aggregate principal amount of bonds for purposes of financing the construction and operation of a hydroelectric facility and the related transmission line.
- Represented a major investment bank as the lead placement agent and sole structuring agent, and acted as designated investors' counsel representing 20 of the world's largest insurance companies and other institutional investors, in connection with the approximately EUR1 billion multi-currency, multi-tranched refinancing of the first operational fully privately financed offshore wind farm in Germany. The refinancing consisted of a 4(a)(2) private placement of several series of senior secured notes, German registered notes, a senior secured promissory note loan agreement in the form of a German Schuldschein and a credit facility.
- Represented a major investment bank as placement agent, and acted as designated investors' counsel to the note investors, in connection with the US$290 million 4(a)(2) private placement of notes issued by a Chilean renewable energy assets company, to finance a 328 MW portfolio of Pequeños Medios de Generación Distribuida (PMGD) projects in Chile, as well as to repay existing debt.
- Represented the sponsor, a major company in the development, construction, and operation of large-scale renewable energy projects in the Americas, in connection with its 4(a)(2) private placement of US$253 million of notes to develop and construct a 244MW solar project and to refinance an existing 70MW solar project, both in Chile.
- Represented a special-purpose corporate as borrower and an American-based multinational power generation development and operations company in connection with an approximately US$140 million project financing provided pursuant to an innovative A/B loan structure, which combines traditional bank financing (through the IDB Group) and a 4(a)(2) private placement of project bonds in connection with the development and construction of a 70MW wind generation facility in Uruguay.
LNG
- Represented FLNG Liquefaction 2 LLC (FLIQ2) and FLNG Liquefaction 3 LLC (FLIQ3), each a subsidiary of Freeport LNG, in connection with their multiple private placements of a total of approximately US$7 billion of investment-grade senior secured project bonds pursuant to Rule 144A / Regulation S and Section 4(a)(2) to refinance senior secured loans incurred to initially finance the development and construction of the second and third liquefaction trains of the multi-train natural gas liquefaction and LNG export facility at Quintana Island near Freeport, Texas.
- Represented FLEX Intermediate HoldCo LLC, an intermediate holdco in the Freeport LNG corporate structure, in connection with its private placement of US$1.25 billion of senior secured notes pursuant to Rule 144A / Regulation S.
Other Power
- Represented Calpine in connection with multiple issuances of billions of US$ in secured and unsecured notes, in both privately placed and SEC registered transactions, with the proceeds being used for various purposes, including refinancing of existing debt and to fund acquisitions and projects.
- Represented two major investment banks as structuring agents, and acted as designated investors' counsel representing institutional investors, in connection with a 4(a)(2) private placement of the approximately US$400 million of notes for the funding of the 620 MW natural gas-fired combined cycle Hilltop power project in Greene County, Pennsylvania.
- Represented a major investment bank in connection with its financing of the Panda Temple Energy Center in Texas, by way of multiple 4(a)(2) private placements of project bonds.
- Represented the sponsor and majority owner in connection with the approximately $1 billion debt restructuring related to the Sandy Creek Energy Station, a nominal 900MW coal plant in Texas.
Other Matters
- Represented Welltec, an oil and gas exploration services company, as issuer, in its multiple high-yield offerings of senior secured notes pursuant to Rule 144A / Regulation S, and related liability management transactions.
- Represented one of Europe's major football clubs in connection with the €1.5 billion financing of its stadium by way of securitization of future revenues, including a 4(a)(2) private placement of multiple tranches of senior notes.
- Represented investors and major banking institutions in connection with the emergency takeover by UBS of Credit Suisse and the write-down of Credit Suisse's Additional Tier 1 (AT1) bonds.
- Represented major investment banks, as the lead sales agents and forward purchasers, in connection with Atmos Energy Corporation's at-the-market (ATM) equity offering program to offer and sell common stock with an aggregate offering price of up to $1 billion.
- Represented a major investment bank, as placement agent, in connection with the private placement by 5E Advanced Materials, Inc., an exploration stage boron and lithium company, of convertible senior secured notes.
- Represented major investment banks, as joint book-running managers, in connection with the registered offering by Atmos Energy Corporation of $800 million aggregate principal amount of its senior notes.
- Represented a U.S. stock property and casualty insurance company in connection with its offering of $350 million in aggregate principal amount of surplus notes pursuant to Rule 144A / Regulation S.
- Represented major investment banks, as placement and structuring agents, and acted as designated investors' counsel representing the institutional investors, in connection with the 4(a)(2) private placement by SouthWest Water to fund the acquisition of certain wastewater utility operations.
- Represented the winning consortium in their bid for the automated people mover (APM) system that is a part of the LAX access modernization program, and the subsequent financing of the APM project which included an offering of Private Activity Bonds (PABs).
Prior Experience
White & Case LLP
Shearman & Sterling LLP
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Memberships & Affiliations
Credentials
Admissions & Qualifications
- New York
Languages
- English
- Swedish
- German
- Danish
- Norwegian
Education
- Georgetown University Law CenterLL.M.1999
- Stockholm UniversityLL.M.1998