CHICAGO – Aug. 31, 2015 – Attorneys with international law firm Greenberg Traurig, LLP acted as investor’s counsel to close one of the most significant infrastructure investments for the nation of Greenland. Sikuki Nuuk Harbour, A/S, the owner of a port facility, tapped the U.S private placement market to raise the EUR59 million required to fund the construction and expansion of its port facility in Greenland’s capital city of Nuuk. The deal closed June 30, 2015.
Despite the favorable outcome, this was not a “cookie cutter” transaction and was originally offered by the issuer as an unsecured obligation. The Greenberg Traurig team engaged in months of negotiations with Danish and Greenlandic counsel and authorities to re-structure a secured deal for U.S. investors. There were innumerable legal, legislative, and technical obstacles presented by the Self-Rule Government’s laws and regulations. The Greenberg Traurig team worked tirelessly and creatively to secure a favorable set of deal terms and documentation for the fully-amortizing securities with a tenor of 21.5 years maturing in 2036.
The Nuuk port project will significantly contribute to the growth of local jobs, as well as the long-term economic growth of the country as a whole, and is scheduled for inauguration in November 2016.
The Greenberg Traurig team that worked on the transaction includes Chicago Corporate & Securities shareholders Charles J. Kolin and David J. LaSota and Associate Lonneke M. Purucker.