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Michael Dayen is an attorney in the Global Project Finance Group and the Banking and Institutional Investment Group of Milbank, Tweed, Hadley & McCloy LLP and is based in the Firm's Los Angeles office. He has experience in a broad range of financing, acquisition and lease transactions, representing lenders, underwriters, corporate borrowers, project sponsors, project companies, sellers, lessors and lessees, including infrastructure project development and finance transactions involving power plants, recycling facilities, waste-to-energy facilities, gas-to-petroleum liquids facilities, hotels and casinos, as well as traditional corporate finance and acquisition transactions.
His recent experience includes:
Representation of CSW Energy in the development of a cogeneration energy project to be located at the site of a chemical complex owned by Eastman Chemical Company in Texas. The representation involved analysis of relevant contractual, regulatory and commercial issues, preparation and negotiation of an energy sale agreement, fuel supply agreement and other agreements for the development, construction and operation of the project.
Representation of Société Générale in the financing of a cogeneration power plant sponsored by Occidental Chemical Corporation and Conoco Global Energy. The project is located in Texas at the site of a chemical complex owned by Occidental Chemical. Subsequent representation of Société Générale in the successful syndication of the financing.
Representation of CSW Energy in the development and financing of a cogeneration project located at a Phillips Petroleum Company refinery and petrochemical complex in Texas. The representation consisted in the structuring and negotiation of the original development venture, the negotiation of energy sale agreement, fuel supply agreement and other agreements for the development, construction and operation of the project, the structuring and negotiation of a sale of equity interests in the project, and in the negotiation and completion of a bank and institutional lenders' long-term debt financing of the project.
Representation of Bank of America NT&SA as agent for a large bank syndicate in the restructuring and eventual successful work-out of a leveraged lease financing of a waste-to-energy plant in Montgomery County, Pennsylvania.
Representation of MiesPeerson N.V. in financing the proposed acquisition by affiliates of NEG Micon Corporation of Denmark and Nichimen Corporation of Japan of a pool of wind-generation power projects in California.
Representation of Enron Capital and Trade Resources in the development of a proposed merchant cogeneration facility in Long Beach in the negotiations of the steam and electricity supply agreement with the thermal host entity.
Representation of The Chase Manhattan Bank, N.A. in the sale of the equity interests held by one of its subsidiaries in a partnership engaged in the business of asset management and investment advice. The partnership was an entity registered under the Investment Advisers Act of 1940.
Representation of Credit Suisse First Boston and CIBC Wood Gundy Securities as underwriters for the issuance of long-term bonds by the owner of a cogeneration power plant located in Florida. The bonds were sold in the United States pursuant to Rule 144A of the Securities and Exchange Commission.
Representation of Station Casinos, Inc. in the development and financing of a new hotel and casino in Las Vegas. The financing of the casino was structured in two parts: a construction loan and a "synthetic" lease (that is a lease intended for security that is treated as an operating lease under GAAP). The hotel and casino were completed and opened for operation in 1998.
Representation of Union Bank of Switzerland as agent for a syndicate of lenders to a waste recycling facility in San Diego County, California, in connection with a restructuring of the facility's debts. This representation involved complex negotiations with the County, which had a long-term contractual relationship with the facility.
Representation of Basic American, Inc. in the leveraged lease to a subsidiary of Calpine Corporation of a cogeneration facility in Northern California. The facility is financed with long-term loans from The Prudential Insurance Company.
Representation of Donaldson, Lufkin & Jenrette in a proposed long-term bond issuance by a Midwest energy development company. The bonds are proposed to be secured by certain power-generation assets of the issuer or its subsidiaries.
Representation of Banque Nationale de Paris in the financing of an amusement park in Colorado.
Mr. Dayen was born in the former Soviet Union and is fluent in Russian and French. He received his law degree from the University of California, Los Angeles in 1991. | 