The MCM Structured Project Finance and Energy Advisory Practice has extensive experience as underwriters of and financial advisors to highly structured project financings.
SERVICES
- MCM specializes in complex municipal projects
- MCM provides money saving advice to borrowers
SOLUTIONS
- MCM brings 65+ years of experience to each client
- MCM specializes in structured finance including prepaid energy and P3/P4 transactions
- MCM 's team is expert in this field
Municipal
• Prepaid Natural Gas (Corporate and Asset Backed)
• Prepaid Power
• Oil and Gas Reserve Analysis and Acquisition
• Natural Gas Pipelines
• Public Power Generation and Transmission
• Gas and Power Utility System Revenue Bonds
• Renewable Energy
• Investment Tax Credit (ITC)
• Production Tax Credit (PTC)
• Accelerated Depreciation
Federal
• Federal Agency and Department Leases
• Enhanced Use Leases (EUL)
• Utility and Energy Services Contracts (ESCo)
• Central Utility Plants
• Energy Savings Performance Contracts (ESPC)
• Securitizations of Defined Federal Government Payments Streams
Advisory
• Municipal Advisor
• Corporate, Developer and Prepaid Supplier Advisor
Past Clients and Counterparties – When “who you know” matters
Municipal
• Tennessee Energy Acquisition Corporation
• Public Energy Authority of Kentucky
• Municipal Gas Authority of Mississippi
• Municipal Electric Authority of Mississippi
• Municipal Gas Authority of Georgia
• Southeast Alabama Gas District
• Lower Alabama Gas District
• Louisiana Municipal Gas Authority
• American Public Energy Agency
• Patriots Energy Group
• Nebraska Public Gas Agency
• Black Belt Energy Gas Supply District
• Clarke-Mobile Counties Gas District
• South Alabama Gas District
Cooperative
• National Rural Utilities Cooperative Finance Corporation
Federal
• Department of Energy
• Department of Defense
• Army
• Air Force
• Department of Agriculture
• Department of Homeland Security
• Federal Aviation Administration
• Veteran’s Administration
Developer
• Gaylord Entertainment
• Lawler Wood
• Keenan Development
Corporate
• BP North America
• Goldman Sachs / J. Aron
• Morgan Stanley
• Shell, U.S.A.
• Chevron Energy Solutions
• Apache Corporation
• Honeywell
• Societe Generale
• BNP Paribas
• Royal Bank of Canada (RBC)
• Bank of America and BAML
• Wells Fargo Securities
• J.P. Morgan
Federal Government Structured Project Financings
$206,199,000 Department of Defense – Fort Detrick Central Utility Plant Phase III Project. Restructured existing bonds and funding the expansion of the Central Utility Plant at Ft. Detrick, MD to provide emergency electricity, steam and chilled water to the campus of the U.S. Army 21st Signal Brigade at Fort Detrick.
$107,718,000 Department of Energy, National Nuclear Security Administration, Pantex Plant Administrative Support Complex – securitization of federal lease payments to finance development of 342,800 square feet of space for approximately 1,100 administrative personnel that previously worked in 52 separate buildings at the Pantex Plant. The Project includes office space, an auditorium, a cafeteria and a medical clinic.
$151,781,000 Department of Defense and three other Cabinet Level Departments- first ever securitization of federal Energy Service Contract (ESC) Payments for development of a Central Utility Plant and Utilidor pursuant to an Enhanced Use Lease with the U.S. Army on the campus of the Interagency Biodefense Campus at Ft. Detrick, MD
$130,000,000 Department of Agriculture – first ever tobacco subsidy transition payment program whereby ongoing federal payments to thousands of growers for the elimination of tobacco subsidies were purchased and monetized
$154,360,000 Department of Energy, National Nuclear Security Administration, Y-12 National Security Complex – securitization of federal lease payments to finance development of 550,000 square foot Public Interface Facility and an Engineering and Production Interface Facility as a major part of the revitalization of the complex
$112,108,000 Department of Energy, Oak Ridge National Laboratory – securitization of federal lease payments to finance development in conjunction with the Industrial Development Board of the City of Oak Ridge, TN of a Computational Sciences Building (housing the world’s fastest non-defense computer), Engineering Technology Facility, Research Office Building, and Multi Research Program Facility which combined house over 1,000 researchers, scientists, engineers and staff as part of the $370 million revitalization of the laboratory
$16,705,000 Department of Agriculture, Natural Resources Research Center – securitization of federal lease payments to finance development of a facility on the campus of the Colorado State University Centre for Advanced Technology
$16,084,000 Federal Energy Regulatory Commission – securitization of lease payments for the development of a facility in Indianapolis to house the Midwest Independent System Operator, a non-profit organization formed with the approval of FERC to coordinate, control and monitor the use of the electric transmission system
$39,415,000 Federal Aviation Administration – securitization of federal lease payments for development in conjunction with the City of College Park, GA Business and Industrial Development Board of the FAA’s Southeastern Flight Headquarters located near Hartsfield International Airport
$13,201,000 Veteran’s Administration – securitization of federal lease payments for development in conjunction with the Medical University of South Carolina of a portion of the cost of the Strom Thurmond Biomedical Research Facility
$144,000,000 Department of Homeland Security, FBI, CIA and DoD – confidential private placement for the securitization of federal lease payments to finance development of the interagency National Counterterrorism Center
$92,436,000 Various Department of Defense locations and NASA – securitization of numerous Energy Savings Performance Contracts owned by the Energy Services Contractor, Honeywell
The Black Belt Energy Gas District
$722,945,000
(Project 6) Series 2021B
Southeast Energy
Authority
$660,165,000
Commodity Supply Revenue Bonds (Project 2) Series 2021B
The Tennessee Energy Acquisition Corporation
$466,410,000
Series 2021A
Southeast Energy
Authority
$420,190,000
Commodity Supply Revenue Bonds (Project 1) Series 2021A
The Black Belt Energy Gas District
$560,310,000
Public Energy Authority of Kentucky
$522,020,000
Gas Supply Revenue Bonds
Series 2020A
The Black Belt Energy Gas District
$294,360,000
(Project 5) Series 2020A
The Lower Alabama Gas District
$634,200,000
(Project 2) Series 2020
Public Energy Authority of Kentucky
$556,155,000
Gas Supply Revenue Bonds
Series 2019C
Central Plains Energy Project
$781,715,000
Gas Supply Revenue Refunding Bonds Series 2019
Public Energy Facilities Authority
$614,455,000
Gas Project Revenue Bonds
Series 2019
The Black Belt Energy Gas District
$693,900,000
Gas Project Revenue Bonds
(Project 4) Series 2019A
Main Street
Natural Gas, Inc.
$675,430,000
Gas Supply Revenue Bonds
Series 2019B
Public Energy Authority
of Kentucky
$383,565,000
Gas Supply Revenue Bonds
Series 2019
Public Energy Authority
of Kentucky
$901,965,000
Gas Supply Revenue Bonds
Series 2018C
Central Plains Energy Project
$535,235,000
(Project 4) Series 2018
Public Energy Authority
of Kentucky
$996,000,000
Gas Supply Revenue Bonds
Series 2018B
The Tennessee Energy Acquisition Corporation
$466,410,000
Gas Project Revenue Bonds
Series 2018
Patriots Energy Gas Finance Agency
$832,350,000
Gas Supply Revenue Bonds
Series 2018
Southeast Gas Supply District
$970,385,000
(Project 2) Series 2018B
Southeast Gas Supply District
$721,780,000
(Project 1) Series 2018A
Main Street
Natural Gas, Inc.
$1,000,215,000
Gas Supply Revenue Bonds
Series 2018C,D&E
The Black Belt Energy District
$686,885,000
(Project 3) Series 2018
Main Street
Natural Gas, Inc.
$1,021,675,000
Gas Supply Revenue Bonds
Series 2018A&B
Public Energy Authority
of Kentucky
$830,090,000
Gas Supply Revenue Bonds
Series 2018A
Central Plains Energy Project
$503,315,000
Gas Project Crossover Refunding Revenue Bonds Series 2017A&B
The Tennessee Energy Acquisition Corporation
$678,250,000
Gas Project Revenue Bonds
Series 2017A
The Black Belt Energy Gas District
$446,760,000
Gas Prepay Revenue Bonds
(Project 2) Series 2017A
The Black Belt Energy Gas District
$523,675,000
(Project 1) Series 2016A
The Lower Alabama Gas District
$599,350,000
Gas Project Revenue Bonds
Series 2016A
John Norman and Tyler Noble are go-to professionals in structured energy financing. Mr. Norman and Mr. Noble have worked together as a team since 2000 and have been with MCM since January 2013. Both have extensive backgrounds and experience as investment bankers and underwriters of highly structured project financings, including municipal energy and natural gas prepayments and natural gas reserve acquisitions. They combine broad market knowledge, strong analytical capabilities, conservative risk management, in-depth credit evaluation, and far reaching bank and industry relationships to provide clients with insightful and exceptional service.
At MCM, and in the wake of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), they now bring their varied and broad investment banking experience to bear on client needs in the capacity of financial advisor. Indeed, one of the best ways that an entity can level the playing field and reduce risks when dealing with sophisticated, and often conflicted, underwriters in complex transactions, is to engage a qualified financial advisor with a fiduciary responsibility to represent their best interests. Likewise, under Dodd-Frank underwriters of complex transactions are protected by assuring that issuers have competent financial advice.
The MCM Structured Project Finance and Energy Advisory Practice is also available to provide Energy Advisory Services to public power generators converting to cheap, abundant and clean burning natural gas. The service includes assistance in project feasibility review, development of risk management policies and procedures governing gas supply acquisitions and commodity price hedging transactions, and development of the gas supply acquisition program including recommendations regarding supply portfolio construction and supplier bidding and negotiations.
Finally, Mr. Norman and Mr. Noble are also available to provide analytical and advisory services to private or investor owned entities and project developers interested in pursuing opportunities with public entities.
