Michael Pignato

Partner

Minneapolis

P: (612) 340-5643

F: (612) 340-2643

Michael K. Pignato is a partner in Dorsey’s Finance and Restructuring group and co-Chair of the Project Development & Finance group. Mike’s practice is focused on project development and financing of energy, water and other infrastructure projects, as well as real estate, corporate and commercial finance transactions for other industries including agribusiness, Indian gaming, and cooperatives.

Project Development and Finance. Development, construction, financing, acquisition disposition and restructuring of electric generation facilities (wind, solar, biomass, cogeneration, gas, coal, other); development, construction and financing of water desalinization facilities, biofuel facilities, synthetic natural gas facilities, casinos, other projects; negotiation of development agreements, construction and equipment supply contracts, interconnection and transmission agreements, gas and coal supply and transportation agreements, grain supply agreements, power purchase agreements, marketing agreements, plant operation and maintenance agreements.

Real Estate, Corporate and Commercial Finance. Representation of borrowers and lenders in connection with construction facilities, revolving and seasonal loan facilities, term loan facilities, syndicated and participating loans, leveraged leases, issuance of bonds and notes, acquisition financings, leveraged lending and asset-based financings. Experience with respect to New Market Tax Credit financings, financing Indian gaming operations and development projects (start-up, working capital, expansions), cooperatives (electric, agribusiness, other), agribusiness and other industries.

Representative Transactions

Counsel to lender with respect to project financing of a water desalinization facility in Massachusetts.
Counsel to project company in connection with $423 million project financing (equity, subordinated debt and senior debt) and development of three 100-million gallon ethanol facilities, located in Indiana, Nebraska and Ohio. (Americas Environmental Deal of The Year, 2006, Project Finance International).
Counsel to private equity fund in connection with acquisition of electric generating facilities.
Counsel to tax equity investor in connection with utility scale wind projects in Texas
Counsel to developer in connection with the development of multiple wind projects located throughout the Midwest.
Counsel to developer in connection with the development, expansion and financing of synthetic natural gas facility in Indiana.
Counsel to project company in connection with $939 million leveraged lease financing ($179 million lease equity, $760 million rule 144A note issue) for development of a 400 MW coal plant in Arizona (U.S. Power Generation Deal of the Year, 2003, Asset Finance International and Project Finance Magazine).
Counsel to developer/borrower in connection with the structuring, negotiation and implementation of a $2.5 billion revolving construction credit facility, utilized to finance the construction of 14 state-of-the-art, natural gas-fired power plants located throughout the United States (Project Finance Deal of the Year (North America) 2000, Project Finance International). Also served as special counsel in connection with the negotiation and closing of the refinancing of such debt through a multiple tranche $2.6 billion bond and term loan offering based on the anticipated spark spread revenues for the 14 gas-fired power plants (Refinancing Deal of the Year (North America) 2004, Project Finance International).
Counsel to developer/borrower in connection with the structuring, negotiation and implementation of a $1 billion revolving construction credit facility, utilized to finance the construction of 8 state-of-the-art, natural gas-fired power plants located throughout the U.S. (Project Finance Deal of the Year (North America) 1999, Project Finance International). Also served as special counsel in connection with the negotiation and closing of the refinancing of this facility through a multiple tranche $1 billion bond and term loan offering secured by 7 of the power plants (Refinancing Deal of the Year (North America) 2003, Project Finance International).
Counsel to developer/borrower in the development and project financing of the first merchant facility in the United States (240 MW, $151.75 million), the subsequent expansion of that facility (510 MW, $281.5 million) and the leveraged lease of the completed facility (750 MW, $400 million).
Counsel to purchaser in various stock purchases and acquisition of interests in numerous electric generating facilities (40 MW - 827 MW, $35 million - $195 million), including both projects in development and operating assets.