Mr Gregory Tan > Shearman & Sterling LLP > New York, United States > Lawyer Profile
Shearman & Sterling LLP Offices
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Mr Gregory Tan
Project Development & Finance
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.
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
Shearman & Sterling LLP has shown deep commitment to Latin America over the last few decades. Like many of its key rivals it stands out for its expertise in energy, infrastructure and mining-and-metals finance, although it has more than respectable credentials in a range of products including acquisition finance, structured financings and bank/bond financings. The firm has extensive geographic coverage from Mexico, Costa Rica and Honduras, down to Colombia, Chile, Brazil and Argentina. Clients include Credit Agricole, Sumitomo Mitsui Banking Corporation, Banco Bilbao Vizcaya Argentaria (BBVA), Transelec and Banco Nacional de México. The practice group advised Transelec Concesiones on a $358m loan facility (and associated interest rate hedging) for the individualised portfolio construction financing of four independent transmission lines and four associated independent substations in Chile; Export Development Canada, KfW IPEX-Bank and MUFG Bank acted as mandated lead arrangers. It also advised BBVA and the other lead arrangers on a $450m refinancing for Mexico’s Grupo Cementos de Chihuahua; and Citibank and Santander on a club deal for the refinancing of Peruvian beverage company Grupo AJE, which has subsidiaries in more than 20 different jurisdictions. Denise Grant is an experienced and versatile finance specialist with an excellent standing in acquisition finance, refinancing and project finance. Gregory Tan leads the global project development and finance group, and is a recognised specialist in Latin America energy and infrastructure financings. Cynthia Urda Kassis heads the metals-and-mining practice and is ‘fabulous to deal with‘, ‘one of the senior finance practitioners out there‘, ‘calm and thoughtful‘ and ‘a real facilitator for clients in getting a transaction closed‘; he ‘deserves plenty of praise‘. Alexandro Padrés has a particularly fine record in Mexico, Chile and the Dominican Republic, where he has worked on a series of headline power and mining sector financings. Augusto Ruiloba is the key name at senior associate level and is recommended by several clients.
Latin America: International firms > Projects and energyWithin: Leading individuals -
Shearman & Sterling LLP has further cemented its prominent standing in Latin America projects and energy. The firm is active across the energy, infrastructure and mining segments and has impressive geographic coverage from Argentina to Mexico and the Caribbean. Much of the Latin America practice sits in New York and Sao Paulo. Clients include Corporación Financiera de Desarrollo (Cofide), Credit Agricole, Sumitomo Mitsui Banking Corporation, Banco Bilbao Vizcaya Argentaria (BBVA), Transelec, Banco Nacional de México, JP Morgan Chase, Itaú Unibanco, Credit Suisse, Ecopetrol, Metropolitan Life Insurance and BlackRock. It advised the commercial and development banks on Enel Green Power’s portfolio project financing of three solar photovoltaic plants in Mexico; the Don Jose, Villanueva I and Villanueva III projects have an aggregate value of $1bn. In another landmark deal, it advised a group of purchasers of private placement secured notes, on the $1.25bn refinancing of the construction of the Longitudinal de la Sierra Norte Tramo 2 toll road project in Peru. Other matters included representing Los Guindos Generación, a joint venture owned by General Electric and the Inprolec Group, in the financing of the expansion of Los Guindos’ existing diesel-fired power station located in the Bío Bío region, Chile; the project will increase capacity by 133MW. The Latin America team is praised for its ‘incredible experience and leadership‘, which comes to to the fore in negotiations with counterparties. It is ‘quick to address outstanding issues‘ and has ‘strength in all Americas regions‘. The group is frequently singled out for its lender-side representation. Gregory Tan is another giant of the market, who is ‘efficient, explains the issues and makes recommendations very well‘; he has has ‘an amicable approach to address issues, is patient, provides great availability and has lots of experience in North and South America based transactions across many different industry sectors‘. Cynthia Urda Kassis is another top practitioner with a tremendous record in energy and infrastruture; she remains one of the market leaders in mining projects in the region. Robert Freedman is a senior member of the practice with deep expertise in energy and oil-and-gas finance, development and acquisitions. Denise Grant has outstanding financing credentials and has worked on some of the headline deals of recent years in Mexico, Chile, Peru, Brazil and elsewhere. Alexandro Padrés has made a significant impression on the market, particularly in power and mining projects in Mexico, Chile and Peru; he is ‘a great lawyer and a pleasure to work with‘ and is recognised for his broad experience across the projects and energy sphere. Senior associate Augusto Ruiloba is a rising star.
United States > Finance > Project financeWithin: Leading individuals: Project finance -
Shearman & Sterling LLP has particular expertise in energy and infrastructure sector project finance mandates. Department head Gregory Tan advised Rose Capital Investment, alongside a cross-jurisdictional team, on its co-investment with the Development Bank of Japan, Highstar Capital and Ares Management for the acquisition of the Linden Power Project in New Jersey, and Alexandro Padrés acted for the commercial and development banks, including Bancomext, BBVA, Caixa, EIB, IDB, IDB Invest, MUFG and Natixis, in connection with the $1bn Enel Green Power portfolio project financing of three solar photovoltaic plants in Mexico. Elsewhere, Robert Freedman, who is focused on US power and renewables transactions, advised GE Capital EFS Financing as administrative agent, collateral agent, joint lead arranger, sole bookrunner and a lender, on the financing for the construction of the Persimmon Creek Wind Farm, a 200MW wind power generation facility located in Ellis, Woodward and Dewey Counties, Oklahoma. Cynthia Urda Kassis, who heads the metals and mining practice, and recently promoted partner Paul Epstein are acting for the US Department of Transportation, through the Federal Highway Administration, as transactional counsel in relation to a senior secured loan as part of the $2bn I-10 Mobile River Bridge and Bayway Widening P3 project in Alabama. Denise Grant is also a key figure. Named lawyers are based in New York. Patricia Hammes recently retired.
United States > Industry focus > Energy: renewable/alternative power
Shearman & Sterling LLP handles project finance, investment and development mandates across a range of renewables projects including biofuel, biomass, fuel cell, geothermal, hydro, solar and wind. Further, the team has experience of environmental regulation and disputes, and has also been involved in federal green building initiatives. The New York-based global project development and finance group is led Gregory Tan, and includes Robert Freedman and Alexandro Padrés. Padrés led a cross-office team that advised a synidcate of lenders including Bancomext, BBVA, Caixa, EIB, IDB, IDB Invest, MUFG and Natixis on the financing arrangements with Enel Green Power for three solar photovoltaic plants in Mexico. Paul Epstein was recently promoted to a partner; Patricia Hammes and Howard Steinberg retired.
United States > Industry focus > Energy: transactions: conventional power
Shearman & Sterling LLP is instructed by power developers, energy companies and contractors, equipment suppliers, investment banks, institutional investors and other financial institutions. The US power team is primarily based in New York and includes Robert Freedman, who acts as global co-head of the sustainable development group and energy group, and Gregory Tan, who leads the project development and finance group. Recent highlights included the team acting for BNP Paribas Securities, Citigroup Global Markets, JPMorgan Chase, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia, as joint lead arrangers and joint bookrunners, in connection with a financing transaction with Cometa Energía, which involved a secured debt offering and a credit facility to finance its $1.3bn acquisition of the InterGen portfolio of energy assets in Mexico. Paul Epstein was promoted to a partner and Helen Cook left the firm to become an independent legal consultant in nuclear energy. Further, Patricia Hammes and Howard Steinberg retired from the New York office.
United States > Industry focus > Energy: transactions: oil and gas
Shearman & Sterling LLP focuses on upstream projects and advises on multiple types of project development and finance, capital markets deals and M&A. Key figures in the practice group include Houston-based Hugh Tucker, who recently joined from Baker Botts L.L.P., New York-based Gregory Tan, who focuses on financing and restructuring in the energy sector, and New York-based Robert Freedman, who heads the global energy group. Another contact in Houston is Robert Masella, who acted for TD Securities in relation to Encana Corporation’s acquisition of Texas-based Newfield Exploration Company in an all-stock transaction valued at C$5.5bn. Also recommended are Coleson Bruce and associate Ryan Staine, who make ‘an excellent team, and do a great job delivering good advice to clients‘. The Houston office was further expanded by the arrivals of Sarah McLean and Todd Lowther from Thompson & Knight LLP, Jeremy Kennedy and Coleson Bruce from Baker Botts L.L.P., and Omar Samji from Jones Day.
- Leading individuals: Project finance - United States > Finance > Project finance
- Energy: transactions: oil and gas - United States > Industry focus
- Energy: renewable/alternative power - United States > Industry focus
- Energy: transactions: conventional power - United States > Industry focus
- Project finance - United States > Finance
Top Tier Firm Rankings
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- Industry focus > Energy: transactions: oil and gas
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- M&A/corporate and commercial > M&A: large deals ($1bn+)
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- Industry focus > Energy: transactions: conventional power
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- Tax > US taxes: contentious
- Finance > Restructuring (including bankruptcy): corporate
- Finance > Project finance