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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
Email:
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 individuals: Project finance

Gregory Tan - Shearman & Sterling LLP

Within: 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.

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United States: Industry focus

Energy: renewable/alternative power

Within: 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.

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Energy: transactions: conventional power

Within: 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.

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Energy: transactions: oil and gas

Within: 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.

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