Michael R. Barz is a corporate and finance attorney with over 25 years’ experience working with major international law firms on significant financing transactions. In particular, Mr. Barz’s practice has focused on domestic and international infrastructure financings utilizing municipal finance, project finance, public-private partnerships, leveraged leasing and other structured financing techniques, including, for example, various forms of Islamic Finance. He also has a focus on sports-related infrastructure and M&A transactions.
Mr. Barz is a 1990 graduate of Fordham University School of Law and a graduate of Columbia University, School of Engineering. He speaks Bahasa Indonesian.
Areas of Practice
- Corporate Law
- Structured Finance
- Represented XL Capital Assurance, Inc. as insurer of $354,825,000 Denver Convention Center Hotel Authority Convention Center Hotel Bonds, in connection with the limited recourse financing of the acquisition, construction and operation of an 1,100 key convention center hotel in Denver, Colorado.
- Drafted the primary concession agreement between the Government of the Virgin Islands and Diageo USVI Inc. enabling the construction of a new distillery for the manufacture of rum to be used in the production of all Captain Morgan products sold in the United States. Work included structuring of transaction and testifying before USVI Legislature regarding the new laws to be enacted to permit novel Public Private Partnership arrangements.
- Advised the California State Parks Department on the creation of a new Public-Private Partnership program enabling the monetization and unlocking of unrealized value in California State Park assets.
- Represented the Illinois Department of Revenue Division of Lottery in the structuring of private management arrangements for the operation of the Illinois Lottery, including the drafting of RFP documentation, shortlisting and selection of a preferred bidder and negation of a private management contract in 2012.
- Represented the group of senior lenders to Long Beach Judicial Partners, LLC in connection with a $441.5 million mini-perm construction financing for the New Long Beach Courthouse PPP Program in Long Beach, California. This was the first social infrastructure transaction closed in the United States relying on an availability payment structure.
- Represented senior credit providers with respect to the restructuring and refinancing of the Citifield Ballpark bond financing to facilitate the redevelopment of the Willets Point area surrounding the Ballpark.
- Represented the Lone Star Rail District on potential funding sources and public private partnership structures related to the development of this proposed commuter rail service from Austin to San Antonio, Texas.
- Represented the US consulting subsidiary of a major UK rail operator with respect to its negotiations of a subcontract with Parsons Brinkerhoff, the primary consultant to the California High Speed Rail Authority.
- Represented Keolis as O&M operator in the development of a new privately owned and operated passenger rail line from Miami to Orlando, Florida to be financed with a combination of private and federal funding.
- Represented Siemens as a Consortium member, equipment supplier and potential maintenance provider on the proposed development of a new high speed rail system between Tampa and Orlando, Florida.
- Represented Kenya Railways in the restructuring of the long term operating agreement with Rift Valley Railways in preparation for a redevelopment of the commuter rail system in and around the city of Nairobi.
- Represented the City of Gary in the structuring of a public private partnership for the City of Gary and the Gary International Airport Authority. This PPP project combined airport operations, infrastructure rehabilitation and commercial retail development on real estate owned by and surrounding Gary International Airport.
- Represented International Finance Corporation and the Government of Haiti with respect to the structuring and implementation of a public-private partnership for the rehabilitation and operation of the port of Cap Haitien, Haiti. This project included the review of current Haitian legislation and existing port contracts and working with the Haitian Government, the IFC and the US Agency for International Development to create a PPP structure that permits a bankable and sustainable expansion of an underutilized port in North Haiti.
- Represented the developer of the Louisiana International Gulf Transfer Terminal (LIGTT) Project on all aspects of the development of a greenfield trans-shipment and multi-purpose terminal at mile marker 1 of the Mississippi River, in the Gulf of Mexico, intended to serve the new Panamex ships that will use the soon to be completed new larger lane of the Panama Canal.
- Represented the primary contractor and a minority shareholder of the project company MAT Concessionaire, LLC, in connection with the concession agreement and related financing concerns on the $660 million public-private partnership transaction for the Port of Miami Tunnel.
- Represented Ambac Assurance Corporation as arranger, bond insurer, interest rate swap provider and possible equity participant in the municipal bond financing of a new cargo facility at Miami International Airport.
- Represented Sohar Industrial Port Company, S.A.O.C. in the development and financing of various port infrastructure improvements and concession arrangements in the Sultanate of Oman.
- Represented Ports America, Inc. in the acquisition financing of a made to order mobile harbor crane from Liebherr, Inc. for Ports America’s expanded operations at Port Hueneme, California.
- Represented Royal Bank of Canada as the lead underwriter and lender to the Golden Gate Access Group, a consortium led by ACS Infrastructure Development, Inc., for the issuance of Private Activity Bonds in Golden Gate’s bid to develop, design, construct, finance, operate and maintain the Presidio Parkway Project in the City of San Francisco.
- Represented Global Via Infraestructuras, S.A. in its bid to design, build, finance, operate and maintain the Jackson Airport Parkway in Jackson, Mississippi. This project had received a TIFIA funding allocation and was designed to be a toll road with traffic risk passed on to the developer. The process was suspended by the Authority in September 2009.
- Represented the Missouri Department of Transportation on its $800 million rehabilitation of bridges project on a public-private partnership basis, including the drafting of a Project Agreement and negotiation with short-listed bidders. Project was ultimately transformed into a publically financed project without public-private partnership terms.
- Represented Ambac Assurance Corporation as insurer of $740,000,000 Las Vegas Monorail Project Bonds issued by the State of Nevada in connection with the acquisition, expansion and construction of a monorail people moving transportation system connecting various hotels and casinos in Las Vegas Nevada.
- Represented Ambac Assurance Corporation, a monoline insurance company as bond insurer, swap insurer and swap provider in the $180 million synthetic fixed-rate, commercial paper based financing arranged by Fleet National Bank for the construction of Lincoln Financial Field, a new stadium in Philadelphia, Pennsylvania for the Philadelphia Eagles. Involved in all aspects of structuring this construction financing, including league issues and city leasing concerns.
- Represented Ambac Assurance Corporation and Assured Guaranty, Inc. as bond insurers and swap providers in the $349 million taxable and tax-exempt bond issuances in respect of the construction and subsequent leasing of the new downtown Louisville Arena (the KFC Yum! Center) by the Louisville Arena Authority to the University of Louisville Cardinals Mens’ and Womens’ basketball programs.
- Represented Ambac Assurance Corporation and Assured Guaranty, Inc. as bond insurers, swap insurers and swap providers on numerous tranches of public and private debt (including New York PILOT Bonds) issued for the construction and subsequent refinancing of new baseball stadiums for the New York Mets and the New York Yankees.
- Represented the acquiring ownership group with respect to National Football League consents and approvals and various stadium-related issues in connection with the purchase of the NFL’s Atlanta Falcons from The Five Smiths, Inc.
- Represented Ambac Assurance Corporation, a monoline insurance company as bond insurer in the limited recourse $42.5 million synthetic fixed, auction rate bond financing underwritten by UBS Paine Webber Inc. for the renovation and expansion of America West Arena in Phoenix, Arizona
- Represented Ambac Assurance Corporation, a monoline insurance company as bond insurer and swap insurer in the $282 million synthetic fixed rate, auction rate bond financing for the construction of Gillette Stadium, home of the New England Patriots, in Foxborough, Massachusetts. Involved in all aspects of structuring this transaction and its subsequent refinancings, recognized as the first full private stadium financing permitted by the NFL and utilizing private, public and league-provided funds.
- Represented Ambac Assurance Corporation, a monline insurance company as Bond Insurer, Swap Insurer and Swap Provider in the $190,000,000 synthetic fixed rate, commercial paper-based financing being arranged by Fleet National Bank for the refinancing of Invesco Field at Mile High Stadium in Denver, Colorado for the Denver Broncos.
- Represented the San Francisco 49ers with respect to the structuring of its private stadium company financing and its relationship with Santa Clara Stadium Authority.
- Represented Ambac Assurance Corporation, a monoline insurance company as bond insurer and swap provider in several rounds of public and private financings for the construction of a new stadium for the Dallas Cowboys in Arlington, Texas. Issues resolved included the sale of seat licenses, Texas real property security issues related to club seats and suites, sale of naming, advertising and sponsorship rights and NFL funding concerns.
- Represented Ambac Assurance Corporation, a monoline insurance company in the $380 million construction bond financing for a new Busch Stadium for the St. Louis Cardinals baseball team. The transaction, originally structured as a leveraged lease financing, was comprised of various types of debt, including a $200.5 million privately placed BBB- bond offering that was raised to AAA by a credit wrap from Ambac, a $45 million loan from St. Louis County, $90 million in funding from the Cardinals ownership group and approximately $45 million in state tax credit financing.
- Represented owner of the NASL’s San Antonio Scorpions soccer team with respect to the sale of the franchise and associated soccer-specific stadium in San Antonio, Toyota Field to the San Antonio Spurs organization.
- Represented a national bank as syndicate member of the $265 million senior secured credit facility in connection with the construction of a new Downtown Arena for the Sacramento Kings.
- Represented Pertamina in the $970 million financing of the gas liquefaction and processing facility, known as Train G, locate din Bontang, Kalimantan, Indonesia, utilizing a limited recourse trustee borrowing financing structure.
- Represented the Minister of Finance in the creation of a private power program for the Republic of Indonesia, including implementing regulations and a standard form power purchase agreement and related project and financing documentation. Represented PT Perusahaan Listrik Negara (PT PLN 0- Indonesia's electric utility company) in the development and financing of the 2x615 MW-coal fired power stations at Paiton I and Paiton II from inception to financial close.
- Represented Pertimina, the Indonesian national oil company, in the $663 million financing of the debottlenecking of the Pertamina refinery in Cilacap, Central Java, Indonesia, utilizing a limited resource trustee borrowing finance structure.
- Represented the International Finance Corporation (IFC) in its first private power projects in the Czech Republic (the $405 million, 343MW coal-fired Kladno Power Project) and the Cote d'lvoire (gas fired 420MW Azito Power Project).
- Represented the Minister of Electricity in connection with the documentation and negotiation of various turbine purchase and maintenance contracts with General Electric and Siemens Power Systems. Also advised the Ministry with respect to various other generation, distribution, and transmission projects related to the reconstruction of Iraq's national power system.
- Worked with a team to create and structure a private power program for the Government of the Gambia, including the creation of suite of project and supporting financing documents to be tendered to potential private power producers.
- Represented Toshiba in connection with the development and financing of a potential 900MW wind farm in West Crimea, Ukraine.
- Represented SECO West with respect to the creation of a private power program for the Kingdom of Saudi Arabia, including the preparation of tender documents, a form Energy Conversion Agreement related to the development of 6 x 350MW oil fired power plant at Shoaiba, Saudi Arabia.
Public Private Partnerships
Energy and International Power Projects
- New Jersey
- New York
- U.S. District Court for the Southern District of New York
- Fordham University School of Law, J.D., 1990
- Columbia University, B.S., Civil Engineering, 1984
- Duane Morris LLP
- Special Counsel, 2017-present
- LeClair Ryan
- Partner, 2016-2017
- Partner, 2012-2016
- DLA Piper
- Partner, 2002-2012
- King & Spalding
- Counsel, 2000-2002
- Counsel, 1998-2000
- White & Case
- Associate, 1990-1998
- U.S. American Indonesian Chamber of Commerce
Selected Speaking Engagements
Presenter, "Heading to the Land of Milk and Honey: Opportunities and Challenges for Project Financing and Offshore Wind Power in Taiwan," Duane Morris & Selvam Taiwan, January 18, 2019
- Speaker, "Insights into Florida's New P3 Law," Presentation in Conjunction with Bank of Montreal P3 Advisory Group, Orlando, Florida, October 2014
- Speaker, Latin America and the Caribbean, "Alternative Delivery Systems, New Methods and New Markets for Chinese International Contractors," Chinese International Contractors Association, Beijing, China, October 2012