Overview

Ben Huffman is a partner in the Energy, Infrastructure and Project Finance Team and the Real Estate, Land Use and Environmental Practice Group in the firm's Chicago office.

Areas of Practice

Ben helps developers, utilities, infrastructure funds, banks and institutional investors finance, buy and sell infrastructure projects, and advises the companies that develop and own those projects, across the United States. While his experience spans asset classes and transaction types, he focuses on tax credit monetization transactions and renewable energy generation facilities. 

Ben advises his clients on all aspects of financing infrastructure development and operating companies, including enterprise and project-level debt financings, tax, cash and operating interest equity investments, and purchase/sale of operating projects and portfolios of projects. He has particular experience with construction, term, asset-based, acquisition and working capital debt facilities, passive tax and cash equity investments and secondary market purchase and sale of debt and equity financing products. Ben also advises clients in the purchase and sale of infrastructure projects at all stages of development and operation.

Ben leverages his breadth of experience with financing transactions at all levels of the capital stack, his in-depth understanding of the development, construction and operation of infrastructure projects and his experience representing a diverse group of institutions with varying institutional needs and business strategies. He brings these advantages to bear to help clients understand their needs and those of their transaction counterparts, and create and implement solutions that mitigate risks, balance the competing demands of flexibility and certainty and overcome barriers to closing.

Experience

Experience

Asset-Based Lending

  • Domestic wind energy developer; $190 million equipment loan.
  • Vertically integrated oil and gas company; $2.2 billion senior secured revolving credit agreement and $250 million private placement of notes.
  • Global bank; $160 million first-lien senior secured revolving facility for a security and alarm retail company.

Cash Flow-Based Lending

  • Regional bank; $25 million term loan secured by cash flows from coal treatment facilities.
  • Global bank; $100 million tax equity backleverage loan.

Acquisition Lending

  • Development and construction company; Multiple-term loan facilities to finance acquisition of solar energy facility portfolio.
  • Global bank; $725 million revolving and term facility to support acquisitions by a publicly listed financial products company.
  • Private equity fund; Acquisition financing for a $2.2 billion leveraged buyout of a publicly listed retailer.
  • Private equity fund medical device portfolio company; $131 million acquisition financing in the form of senior secured term and revolving credit agreement and subordinated notes.
  • Global bank; $105 million leveraged loan to finance acquisition of a multi-national computer hardware manufacturer.
  • Global bank; $120 million leveraged loan to support acquisitions by a multi-national chemicals manufacturer.

Project Financing

  • National bank; $250 million term loan for a combined cycle gas plant in Alabama.
  • National bank; $200 million term loan for combined cycle gas plants in Ohio and Indiana.
  • Domestic wind energy developer; $568 million term-convertible construction debt and tax equity financing for a wind generation facility in Michigan.
  • Domestic wind energy developer; $650 million term-convertible construction debt and tax equity financing for a wind generation facility in Nebraska.
  • Domestic wind energy developer; $96 million term loan refinancing for a wind generation facility in West Virginia.

Tax and Cash Equity Investments

  • National bank; $84 million tax equity investment in a joint wind and solar generation facility in Arizona.
  • National bank; $13 million tax equity investment in multiple solar generation facilities in Massachusetts.
  • National bank; $34 million tax equity investment in a solar generation facility in Texas.
  • Global wind energy developer; $96 million tax equity financing for a wind generation facility in Texas.
  • Global wind energy developer; $430 million tax equity financing for a wind generation facility in Indiana.
  • Global wind energy developer; $336 million tax equity financing for a wind generation facility in Texas.
  • Global wind energy developer; Upper tier sale of 80% of cash equity interests in operating wind generation facilities.
  • Global bank; $59 million sale of tax equity interests in a wind generation facility to original developer.
  • Global bank; $137 million sale of tax equity interests in a portfolio of wind generation facilities to a holding company jointly owned by tax equity investor and original developer.
  • Global bank; $25 million partial sale of tax equity in a construction-phase solar and wind generation facility.
  • Global bank; Purchase of several portfolios of LIHTC-generating properties from multiple originators, including acquisition of direct ownership of limited partner interests as well as acquisition of interests in multi-investor funds.
  • Global banks and national insurance company; Sale of remainder cash interest in multiple tax equity investments in wind generation facilities
  • Global wind developer; $340 million sale of cash generating interests in a portfolio of wind generating facilities to a holding company jointly owned by developer and investor.
  • Global wind energy developer; $800 million joint venture for a wind generation facility in Texas.

Insights

Articles

  • "Federal Preemption of State Labor Laws in the Context of Workers Compensation for Undocumented Workers," 32 Hamline Journal of Public Law & Policy, 83, Fall 2010

Real Estate, Land Use, & Environmental Law Blog Posts 

Education

J.D., Notre Dame Law School, 2010, summa cum laude

B.A., DePauw University, 2007, cum laude, Phi Beta Kappa, Management Fellow

Admissions

  • Illinois
  • Indiana
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