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Clifford Chance

2001 K STREET NW, WASHINGTON DC 20006-1001, USA
Tel:
Work +1 20006 1001
Fax:
Fax +1 20006 1001
Email:
Web:
www.cliffordchance.com

Fabricio Longhin

Tel:
Work +1 202912 5015
Email:
Clifford Chance LLP

Work Department

Banking & finance, Energy & resources, Rail, Transport & logistics

Position

Fabricio Longhin advises developers, commercial banks, multilateral organizations, export credit agencies, infrastructure and energy funds and institutional investors in all aspects relating to the development and financing of energy and infrastructure projects in Latin America and the US.


Latin America: International firms

Banking and finance

Within: Banking and finance

Clifford Chance has a formidable Latin America banking and finance practice spread across its New York, Washington DC and São Paulo offices. The broad practice has demonstrated its market leading credentials in both restructurings and new money financings across the region. It is at the forefront of numerous recent restructurings in Brazil, where it also has a strong record in trade and commodity finance and export prepayment facilities. The firm is also experiencing growth in Argentina, following the jurisdictions re-engagement with the global economy, and remains a big player in energy and infrastructure finance and aviation finance. Other than Brazil, where it has a solid physical presence, the firm is especially active in Mexico, Colombia and Peru. The firm has long been recognised for its lending-agency client base and while this continues to be a pivotal part of the practice, it now represents a multitude of commercial banks such as UBS, HSBC, Mizuho Bank, Goldman Sachs and Credit Suisse. It has also experienced considerable growth in borrower engagements for clients such as Grupo R. The firm is widely recognised for its prominent role in Colombia’s 4G transport infrastructure program. This included advising the banks and debt funds on the financing of eight separate toll roads as part of the first wave of the nation’s $20bn infrastructure initiative. It represented Goldman Sachs on a $2bn multi-tranche and multi-currency financing for three 4G toll roads and advised Inter-American Development Bank (IDB) on the financing of the Perimetral Oriental de Cundinamarca toll road. In another landmark transaction, the firm advised Metro de Lima Linea 2, as concessionaire, and a consortium of sponsors on a $1.15bn securitization by Lima Metro Line 2 Finance and an $800m structured financing provided by a group of commercial banks, multilaterals and export credit agencies (ECAs). This involved the largest RPI-CAO securitization in Peru to date and constituted a fundamental component in the development of this landmark metro project in Lima. New York’s Jay Gavigan has a strong record in corporate financings and energy sector financings, and has a close connection to the IDB, several commercial banks and a number of Latin American borrowers, particularly in Mexico, Argentina, Brazil and Colombia. Chris Willott has transferred from São Paulo to New York, but remains heavily focused on Brazil where he represents a number of major local borrowers and banks in project finance, trade finance and corporate finance transactions. Gianluca Bacchiocchi is a leader in project finance, including transactions involving both loans and bonds. Washington DC’s Fabricio Longhin is another key player in project finance and has impressed with his work on Colombia’s 4G infrastructure program. Charles Adams is an increasingly integral member of the practice, having worked on a series of important deals in Colombia and Peru. Evan Cohen, the Americas regional managing partner, has a broad practice encompassing acquisition finance, project finance, syndicated lending and restructuring; and Washington DC’s Catherine McCarthy is close to a number of agency lenders such as the International Finance Corporation (IFC), IDB and Inter-American Investment Corporation (IIC), and commercial banks including Citibank and HSBC.

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Projects and energy

Within: Leading lawyers

Fabricio Longhin - Clifford Chance

Within: Projects and energy

Few firms can match Clifford Chance’s ‘very active’ Americas energy-and-infrastructure group in terms of its breadth and depth of expertise across jurisdictions, sectors and transaction types. With its ‘strong Spanish speaking capabilities’, a substantial São Paulo office and Latin America-focused teams in New York and Washington DC, the practice provides a compelling offering to a wide range of Latin American clients and international clients with interests in the region. Notably, it has developed close connections with commercial and investment banks such as Goldman Sachs, Credit Suisse, JP Morgan, HSBC and BNP Paribas, as well as multilateral agencies and development finance institutions (DFIs) including the Inter-American Development Bank (IDB), Inter-American Investment Corporation (IIC), International Finance Corporation (IFC) and Overseas Private Investment Corporation (OPIC). Other clients include Iridium, Mota Engil and Odebrecht. It has led the market in representing investment banks, particularly Goldman Sachs and JP Morgan, and has developed an especially impressive record with IIC amongst the agency lenders. The practice has gained particular prominence in a number of sectors, especially the Colombian 4G road transport infrastructure programme, and it is also at the forefront of energy and infrastructure transactions in other key jurisdictions such as Peru, Mexico, Paraguay and Argentina. The firm has led the market in project bonds and hybrid financings involving bank debt and capital markets funding, most notably in Peru and Colombia where it has dominated the markets. In addition, the team advised IDB and DNB Group in connection with the bridge financing, and a long term financing structured as a B-bond, of the 71MW Campo Palomas wind farm in Uruguay; this was the first true greenfield B-bond in Latin America. In another substantial transaction, it advised senior lenders IIC and Proparco on the $150m financing to project company Providencia Solar for the development, construction and operation of a solar photovoltaic power plant in El Rosario, El Salvador. The team also advised Credit Suisse on a $30m bridge loan to Ergon Peru for the financing of three photovoltaic solar panel installation projects in Peru. New York’s Gianluca Bacchiocchi is a prominent figure in project bonds and hybrid and multi-source financings, most notably in Colombia and Peru where he advises a range of commercial and investment banks, multilateral agencies and sponsors. Washington DC partner Fabricio Longhin is another market leader in project finance; solely focused on Latin America he has been at the forefront of the 4G infrastructure programme in Colombia, and –as an Argentine– he is also heavily involved in the development of projects, including renewable energy projects, in that jurisdiction. Washington DC partner Catherine McCarthy continues to be a key figure for multilateral agencies and several commercial banks, as does Lori Ann Bean and counsel Christopher McIsaac, who co-leads the Americas energy-and-infrastructure group. Chris Willott has transferred to New York from São Paulo but remains heavily focused on Brazil and wider Latin America. Senior associate Guido Liniado is an up-and-coming name, particularly in relation to Colombia and Argentina-related projects.

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United States: Finance

Project finance

Within: Project finance

Clifford Chance’s ‘fantastic’ department is commended for its ‘impressive industry knowledge’ and for its ‘unparalleled levels of commitment and responsiveness’. Projects based in Latin America and Africa are a particular strength, and the firm’s lender-side practice is formidable. Gianluca Bacchiocchi and senior associate Guido Liniado (who are noted for their ‘perfect combination of knowledge, work ethic and commerciality’ and for their ‘incredibly good understanding of counterparty’s concerns’) advised Goldman Sachs as arranger, and a group of senior lenders including Bancolombia, on the debt financing of three toll road projects in Colombia, together worth $965m. Lori Bean has been very active on Africa-based projects: she assisted OPIC, Standard Bank and Nedbank with the $500m financing of a 192MW power plant in Ghana, advised OPIC on $400m-worth of financings pertaining to wind projects in Kenya, and acted for the same client again on the $857m financing of a solar project in South Africa. In an illustration of the practice’s work for sponsors, David Evans assisted Matelec Group with the financing of the $134m Tobene power project in Senegal, and Fabricio Longhin advised Graña y Montero on the $200m part-financing of the Gasoducto Sur Peruano project. Closer to home, Evans acted for Samchully Asset Management on its $609m equity investment in an Ohio gas-gathering system.

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United States: Industry focus

Energy transactions: oil and gas

Within: Energy transactions: oil and gas

Clifford Chance’s ‘outstanding’ Washington DC-based practice has ‘superior knowledge’ and a key strength is cross-border project finance. Fabricio Longhin assisted Graña y Montero with obtaining a $200m loan from Credit Suisse to finance the $4.2bn Gasoducto Sur Peruano project; David Evans advised Samchully Asset Management on the partial acquisition from Total and CGAS Properties of a gas-gathering system in Ohio.

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