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Shearman & Sterling LLP

599 LEXINGTON AVENUE, NEW YORK, NY 10022-6069, USA
Tel:
Work +1 212 848 4000
Fax:
Fax +1 212 848 7179
Web:
www.shearman.com

Gregory Tan

Tel:
Work +1 212 848 8324
Email:
Shearman & Sterling LLP

Work Department

Project Development & Finance

Position

Gregory Tan is the Practice Group Leader of Shearman & Sterling’s Project Development & Finance Group. His practice consists of representing financial institutions, funds and corporations in their private financing activities, focusing principally on lenders and sponsors in project development, limited recourse and structured financings and restructurings in the infrastructure and energy industries. Touted by clients as “an excellent negotiator” and “the guy you want on your team,” whose “business savvy approach paves the way for the successful closing of any deal. Mr. Tan has been named a leading lawyer in project finance by Chambers Global, Chambers USA, Chambers Latin America, PLC Which Lawyer?, IFLR 1000 and The International Who’s Who of Project Finance Lawyers.

Education

King’s College London, University of London, LL.M., 1994; King’s College London, University of London, LL.B. (Hons), 1991


Latin America: International firms

Banking and finance

Within: Banking and finance

Shearman & Sterling LLP’s long presence in Latin America has afforded it prime connections to lenders and borrowers, spanning key product areas such as acquisition finance, bilateral and syndicated loans, project finance, and restructurings and refinancings. The firm recently reinforced its finance capabilities in Latin America with the hire of counsel Roberta Berliner Cherman in São Paulo; a former associate at the firm, Cherman subsequently spent nine years as an in-house counsel at Brazil’s Itaú Unibanco. Recent work has seen the team advise the joint lead arrangers on a $1.5bn refinancing for Petróleos Mexicanos (Pemex) and represent the lead arrangers on a $400m financing for Mexican multinational food manufacturing company Gruma, involving a $250m senior unsecured revolving credit facility and a $150m senior unsecured term loan facility. The practice has also impressed in restructurings and financings in Brazil, and has a market leading presence in energy, mining and infrastructure financings. Key clients include Banco BTG Pactual, Banco Santander Brasil, Banco Santander Chile and Caixa Econômica Federal. Denise Grant has a market leading presence in acquisition finance, most notably in Mexico, Chile and Peru, although she is equally adept in corporate loans and project finance; Grant has further experience in the Caribbean and is praised for her ability to prioritise issues and ‘maintain excellent relationships with her clients’. Global head of the firm’s project development and finance group, Gregory Tan is an industrious figure with a high profile in the region. Cynthia Urda Kassis is a leading name in the mining sector, but also has broader expertise in energy and infrastructure; she is regarded as ‘on point and nuanced’ in her approach, with one peer suggesting that she is the benchmark for young lawyers to aspire to and another highlighting that she is ‘delightful to work with’, ‘sticks to her guns when she needs to’ but is ‘willing to get things done’. Alexandro Padrés, a Mexican national, has a fine record in power sector financings in Mexico. Paul Epstein, a project development and finance specialist with Latin America experience, was promoted to partner in January 2018. All named partners are based in New York unless stated.

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Projects and energy

Within: Leading lawyers

Gregory Tan - Shearman & Sterling LLP

Within: Projects and energy

Shearman & Sterling LLP has a broad-based practice, covering oil and gas, power, renewables, transmission lines, transport infrastructure, and mining and metals. Moreover it has widespread geographic coverage, including major jurisdictions such as Mexico, Brazil, Chile, Peru, Argentina, Ecuador, Paraguay and Bolivia. The Latin America team covers a mix of project development, project finance and project refinancings, including those involving capital markets issuances. It has an even balance of Latin American and international sponsor clients, along with a rich variety of lender clients, including commercial banks, private equity funds, sovereign wealth funds and pension funds. Recent mandates include advising Y-GEN Eléctrica and Y‐GEN II Eléctrica, the joint venture operations owned by General Electric and YPF, on the $220m financing of the construction of two gas-fired power stations in Argentina; this was the first project finance loan to close in Argentina for more than a decade. The practice also represented Carso Gasoducto Norte on the $545m non-recourse project financing of the 630km natural gas pipeline from Samalayuca, Chihuahua to Sásabe, Sonora in Mexico. Gregory Tan is global head of project development and finance, has a strong focus on Latin America, and delivers ‘a consistently good experience in terms of knowledge and an ability to be commercial in his approach’. Head of the firm’s mining and metals practice, Cynthia Urda Kassis is ‘a fixture on the Latin American scene especially in mining and oil and gas’, a ‘lovely human being who persuades and wins points through logic and reason rather than fist pounding’, she is ‘very smart, very constructive, and very capable and clever – clients love her’. Alexandro Padrés is Mexico and New York-qualified, and has an especially strong record in Mexican and Chilean renewable energy and mining projects. Robert Freedman provides further senior expertise in energy sector transactions. Associate Augusto Ruiloba is ‘a very good attorney’; ‘incredibly smart and business oriented’, he ‘knows how to deal with clients and people sitting across the table from him’.

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United States: Finance

Project finance

Within: Leading lawyers

Gregory Tan - Shearman & Sterling LLP

Within: Project finance

From its New York office, Shearman & Sterling LLP provides ‘practical, commercial and insightful advice’ to a strong mix of lenders and sponsors on infrastructure and energy projects, both in the US and in Latin America. Cynthia Urda Kassis advised government entities on various significant road and rail projects, including acting for the US Department of Transportation on the issuance of private activity bonds and subordinated debt for the purpose of financing toll lanes between North Virginia and Washington DC. In the oil and gas sector, Kassis acted for a syndicate of 19 commercial banks on the $7.3bn financing of the Gasoducto Sur Peruano project in Peru. The other key figure in the team is Gregory Tan, who advised sponsors on numerous energy projects in Latin America: as well as assisting Carso Gasoducto Norte and its affiliates with the $535m project financing of the development of a gas pipeline running from Chihuahua to Sonora in Mexico, Tan also advised Y-GEN Eléctrica and Y-GEN II Eléctrica on the financing of the construction of two gas-fired power stations in Argentina. The practice is also present in Wash DC, where Patricia Hammes and ‘outstanding’ New York-based lawyer Robert Freedman were active for lenders to the conventional power sector.

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United States: Industry focus

Energy transactions: conventional power

Within: Energy transactions: conventional power

In 2017 Shearman & Sterling LLP was kepy busy handling a high volume of development and finance remits in Latin America, including New York-based Gregory Tan acting for Y-GEN Eléctrica and Y-GEN II Eléctrica on the financing for the construction of two gas-fired power stations in Argentina. Domestic work included DC-based practice co-head Patricia Hammes acting for the lenders on Helix Generation’s $2.2bn acquisition of 3,950MW of generation resources. New York-based Robert Freedman jointly heads the practice.

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Energy transactions: oil and gas

Within: Energy transactions: oil and gas

Shearman & Sterling LLP’s New York-based team excels in international project finance, and in one highlight Cynthia Urda Kassis acted for a syndicate of 19 commercial banks on the financing of the Gasoducto Sur Peruano project in Peru. The team also undertakes corporate and capital markets work for the likes of Petrobras. Gregory Tan and Robert Freedman are additional contacts.

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Energy: renewable/alternative

Within: Energy: renewable/alternative

Shearman & Sterling LLP’s New York-based team regularly advises on the financing of cross-border projects; Gregory Tan acted for the sponsors on the $235m financing of the development, construction and operation of two solar photovoltaic projects in Mexico. The other name to note is Robert Freedman, who acted for the lead placement agents on various capital markets financings, both in the US and abroad.

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