Cathleen McLaughlin > Paul Hastings LLP > New York, United States > Lawyer Profile

Paul Hastings LLP
NEW YORK, NY 10166
United States

Lawyer Rankings

Latin America: International firms > Banking and finance

Paul Hastings LLP is best known for big-ticket energy and infrastructure financings, though it operates across the debt space from syndicated loans to holdco refinancings and hybrid financings involving the capital markets. Key clients include Goldman Sachs, Morgan Stanley, JP Morgan, Citibank, HSBC, Credit Suisse and Banco Itau. The firm advised HSBC Mexico, as sole lead arranger and bookrunner, on a New York law-governed revolving credit facility to Grupo Televisa, the leading media company in the Spanish-speaking world. It also advised EVM on an $80m private placement of  senior secured notes to refinance the EVM I project, a 100MW open cycle gas-fired power plant in Axapusco, Mexico, subsequently assisting the company with a $740m bank and institutional-investor financing of the 850MW EVM II project, a  combined cycle gas-fired power plant. It ‘is a great team to work with, everyone is fully aware of the transaction and ready to respond in a timely and excellent manner‘. It ‘has sharp lawyers with good social skills and who are capable of identifying the key points of a negotiation‘. Robert Kartheiser is ‘a very strong player – reasonable and commercial‘; he is acclaimed for his ability to operate in both Spanish and Portuguese, and his prominence in large-scale energy and infrastructure financings. Michael Fitzgerald is for many, the market leader in Mexico capital markets issuances, although he also has a fine record in commercial loans and syndicated financings. Joy Gallup is noted for structured debt products, debt restructurings and corporate finance. Arturo Carrillo and Elicia Ling are part of the next generation of partners in this space, with the latter noted for her ability to operate in Spanish and Portuguese, particularly in energy and infrastructure financings. Cathleen McLaughlin provides additional senior expertise in capital markets-driven and hybrid financings. At senior associate level, Thomas Sines has impressed in a series of 4G toll road financings in Colombia. Former head of the Sao Paulo office Roberta Bassegio has joined Marlim Azul Energia. All named individuals are based in New York unless stated.

Latin America: International firms > Capital markets

Paul Hastings LLP remains a dominant force in Mexico, but is spreading its geographic coverage. Brazil has become a more pivotal market for the firm, while Colombia, Peru and Argentina are also providing a growing number of engagements. It is an increasing presence in project bonds, most notably those connected to toll-road infrastructure programmes. Clients include Grupo Industrial Alfa, Sigma Alimentos, Nemak, Axtel, Companhia Energética de Minas Gerais (CEMIG), Grupo Kaltex, Concesión Ruta al Mar, Citigroup, Credit Suisse and JP Morgan. In a landmark deal, it advised the initial purchasers on the $1.64bn Fibra-E offering by Grupo Aeroportuario de la Ciudad de Mexico (GACM) on the Mexican stock exchange; this was the largest IPO in Mexico since 2013. Showcasing its greater prominence in Brazil, it advised the Brazilian power company CEMIG on a $500m bond offering, having advised on its subsidiary CEMIG GT’s inaugural bond offering in 2017. The Latin America team is ‘very experienced across the board‘,  provides ‘superb attention to detail‘, ‘deep involvement from senior partners‘ and is ‘top tier in Mexico‘. The core capital markets team ‘have been together for a long time and it shows‘, with clients indicating that it is ‘highly coordinated and engaged‘, ‘always gives good and timely advice‘, ‘very proactive‘, ‘really experienced‘ and ‘always looking for a good and balanced solution‘. Michael Fitzgerald is the doyen of the Mexican capital markets and is supported ably by Arturo Carrillo and Joy Gallup. Sao Paulo partner Steven Sandretto is building the firm’s presence in Brazil and Cathleen McLaughlin is the primary name on project bonds and hybrid structures. Counsel Pedro Reyes is another senior individual in the team.

Latin America: International firms > Projects and energy

Paul Hastings LLP is a leader in energy and infrastructure finance thanks in large part to the eminence of chair of the global project finance practice, Robert Kartheiser, a big name among lenders and sponsors who is also well-known for his ability to operate in Spanish and Portuguese. He has built an impressive fully Spanish-fluent team, many of whose members also speak Portuguese. Colombia is an especially fruitful market for the top-quality team, which has developed an impressive market share of the 4G toll road projects segment, particularly on the sponsor side; a couple of which have involved bank-bond financings. Key clients include JP Morgan, BNP Paribas, EVM, Natixis, Enagas, and SMBC. The team continued to advise Sumitomo Mitsui Banking Corporation and Corporación Financiera de Dearrollo on the $142m project financing for the design, installation, operation, and maintenance of a minimum of 173,000 solar photovoltaic systems by Ergon Peru. It also advised the sponsors on the $717m dual-currency (Colombian peso and US dollar) financing of the Autopista al Mar 1 highway, as part of Colombia’s 4G road infrastructure programme. The team is ‘accessible, engaged and detailed‘. Elicia Ling is making her mark as a partner, very much in the image of the previously mentioned Kartheiser, and Cathleen McLaughlin provides additional support in capital markets-driven financings. Former Sao Paulo office head Roberta Bassegio departed for Marlim Azul Energia, a joint-venture between Shell and Mitsubishi Hitachi Power Systems, but the firm has moved rapidly with the mid-August 2019 hire of David Flechner, formerly of Shearman & Sterling LLP.

United States > Finance > Project finance

Paul Hastings LLP is instructed by sponsors and lenders in relation to energy and infrastructure projects, and it is particularly noted for its expertise in advising on projects in Latin America. New York-based Robert Kartheiser, who heads the team, advised Sumitomo Mitsui Banking Corporation and Corporación Financiera de Desarrollo on the $142m project financing for the design, installation, operation, and maintenance of solar photovoltaic systems by the borrower Ergon Perú to supply electricity to rural areas not connected to the power grid in Peru. Kartheiser and Cathleen McLaughlin, who is also based in New York, advised Glenfarne Group on a $400m syndicated senior secured loan to subsidiary company Prime Energía. Recently promoted partner Elicia Ling in New York, William DeGrandis in Washington DC, Peter Weiner in San Francisco and Roberta Bassegio, who is based across the firm’s New York and São Paulo offices, are also key figures.