Nicole Mc Millan

Senior Associate
Norton Rose Fulbright South Africa Inc

Johannesburg
South Africa
T:+27 11 685 8589
Johannesburg
South Africa
T:+27 11 685 8589
Nicole Mc Millan

Nicole Mc Millan

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Biography

Nicole is an associate in the banking and finance team based in Johannesburg.

Nicole's experience includes project finance, acquisition finance, property finance, general banking and finance-related work and refinancings. She has been involved in a number of transactions under South African Renewable Energy Independent Power Producer Procurement Program (REIPPPP) where she has assisted in advising clients on the bid submission phase, reaching financial close once awarded preferred bidder and refinancings of projects which have reached commercial operation. She has experience assisting on local and cross-border transactions advising commercial banks, development finance institutions, borrowers and sponsors.

Nicole began her career at the firm in 2016 as a Candidate Attorney, was appointed as an Associate in the banking and finance team in 2019 and a Senior Associate in 2022.


Professional experience

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BCom Law (majoring in Taxation and Economics) (2014)

LLB (cum laude) (2016)

  • Red Rocket – Round 6 Financial Close (2024) - Assisted the lead legal advisor in advising Red Rocket (sponsor) and Ursa Energy (RF) Proprietary Limited (project company) in the project financing transaction for the Virginia Solar Park 240MW solar photovoltaic power project, being implemented as a partnership between Red Rocket, Reatile and Jade-Sky Energy.
  • Refinancing of Witkop (2024) - Assisted the lead legal advisor in advising The Standard Bank of South Africa and Vantage GreenX Fund on the refinancing of the senior and subordinated debt of Core Energy under the Refinancing Protocol, with Phakwe Witkop Investments as the Sponsor.
  • Refinancing of Aries and Konkoonsies (2023) - Assisted the lead legal advisor in advising The Standard Bank of South Africa on the senior debt refinancing under the Refinancing Protocol of the Aries and Konkoonsies solar plants in the Northern Cape, with Globeleq as the Sponsor.
  • Ghanaian bank (Cross-border) (2020, 2021 and 2023) - Assisted the lead legal advisor in advising a Ghanaian bank (acting as Facility Agent and Arranger) in the advance of a guarantee facility by a syndicate of 11 lenders to two Ghanaian borrowers in the mining industry for purposes backstopping the borrowers' obligations under agreements in place with a Ghanaian regulatory body.
  • Carbon Credit Financing (2023) – Assisted the lead legal adviser on advising the Standard Bank of South Africa on its first major carbon credit financing transaction which funding was used for the purchase of fuel efficient cookstoves to local communities resulting in the generation of carbon credits, which is then sold to a major Offtaker(s) to reduce their carbon tax bill.
  • Refinancing of Kouga wind farm (2023) - Assisted the lead legal advisor in advising The Standard Bank of South Africa on the debt refinancing under the Refinancing Protocol of the Kouga Wind Farm as well as the implementation of a change in shareholding.
  • Nedbank Limited (acting through its Corporate and Investment Banking Division) (2023) – Assisted the lead legal adviser on advising Nedbank on the refinancing of two solar PV plants under the Refinancing Protocol, the change of shareholding in the project companies and the implications on Nedbank’s security package as well as the change in the O&M Contractor and the related performance bonds.
  • Italian Lender (2022) - Assisted the lead legal adviser on advising an Italian Lender. on a multi-million Euro term loan facility (governed by English law) to a South African Development Financial Institution.
  • Standard Bank Limited and Nedbank Limited (2022) - Assisted the lead legal adviser on advising Nedbank and The Standard Bank of South Africa on the refinancing of the Cookhouse wind farm under the Refinancing Protocol and the implications of the refinancing under REIPPP.
  • Infinity Power – REIPPP R6 Bid Submission (2022) – Assisted the lead legal adviser on advising Infinity Power as Sponsor in relation to the submission of bid responses of 5 solar projects under Round 6 of REIPPP.
  • IFC / Moove (2021) - Assisted the lead legal adviser on advising the International Finance Corporation on the provision of an English law governed facility to support the expansion of Moove’s fleet of vehicles in Nigeria and across Africa.
  • Enel Green Power – REIPPP R5 Bid Submission (2021) - Advised Enel Green Power as Sponsor in relation to the submission of bid responses of 16 projects across solar and wind technologies under Round 5 of REIPPP.
  • Infinity Power – REIPPP R5 Bid Submission (2021) – Assisted the lead legal adviser on advising Infinity Power as Sponsor in relation to the submission of bid responses of 5 Solar PV projects under Round 5 of REIPPP.
  • Globeleq (2021) - Assisted the lead legal adviser on advising Globeleq on the senior debt refinancing of three of its renewable energy projects – the 50MW De Aar and 50 MW Droogfontein solar plants and the 138MW Jeffreys Bay wind farm. This was the second refinancing of renewable assets under the IPPO Refinancing Protocol.
  • STOA / Proparco (2021) - Assisted the lead legal adviser in advising STOA, a French impact fund specializing in infrastructure investment, Swedfund, a Swedish development finance agency, and Proparco, the private sector arm of the Agence Française de Développement, on their US$80m investment in Serengeti Energy. The investment is to increase the production of renewable energy, contribute to increasing energy access and promote sustainable economic development.
  • International Finance Institutions (2021) - assisting the lead legal advisor in advising two leading international finance institutions in the restructuring of its original facilities to a Mozambican borrower with sponsors situated in Bahrain and the UAE.
  • SA Bank / TBI / Momentum (2020) - Assisted the lead legal advisor in advising Momentum, TBI and South African bank in the provision of preference share facilities for the refinancing of an equity shareholding in an operational concentrated solar power project.
  • JSE Listed Entity (SA and cross-border) (2020) - Assisted the lead legal advisor in advising a JSE listed entity and its subsidiaries in the restructuring of its local and cross-border facilities with both leading commercial banks and development finance institutions.
  • Norwegian bank (Cross-border) (2020) - Assisted the lead legal advisor in advising a Norwegian bank in respect of South African law matters in relation to the amendments to various Norwegian law governed facility agreements and the South African law governed security package.
  • Renewable wind project equity sale (SA and cross-border) (2020) - Assisted the lead legal advisor in advising a leading South African Bank on the release and cancellation of the certain financing and security arrangements, and giving effect to new financing and security arrangements in relation to the sale of an equity shareholding in a renewable project in the secondary market.
  • South African Airways SOC Limited (SA) (2019) - Assisted the lead legal advisor in advising a Lender Consortium of 8 lenders in relation to the debt restructuring of finance facilities made available to South African Airways SOC Limited.
  • Brookfield Asset Management (NYSE:BAM) REIPP Power Plant Sales (2019) - Assisted the lead legal advisor in advising on all financing related aspects of the sale by Brookfield Asset Management of its majority shareholding in five solar photovoltaic power plants in the Limpopo Province and Northern Cape and a wind farm in the Western Cape, totalling approximately 178MWs.

Insights

South Africa: Sustainability and ESG

Publication | October 19, 2022