About

Number of years practice:

23

Principal practice areas:

Project Development and Finance

Bar admissions:

New York/United Mexican States

Languages spoken:

English, Spanish

Alexandro M. Padrés believes Mexico is a foundation of his practice. At the beginning of his career in the country, he worked locally representing the Comisión Federal de Electricidad, Petróleos Mexicanos and other major players in the energy space. Now at Shearman & Sterling, Padrés practice remains heavily focused on Mexico. He is a dual citizen of and maintained dual qualification in Mexico and the United States. Truly bilingual and bicultural, he brings a singular ability to bridge cultural gaps and address legal and business issues in cross-border deals.

Padrés advises a broad range of clients, including commercial, multilateral, development and export financial institutions and multinational corporates and developers in the power (conventional and clean energy), oil and gas, telecommunications, transportation, mining and infrastructure sectors. With these clients, he regularly works on major transactions recognized for their innovativeness and impact on Mexico, such as Enel Green Power’s solar portfolio project financing, the Waha-San Elizario and Waha-Presidio natural gas pipelines, and others that have received awards from Project Finance International, Latin Finance, IJGlobal and other industry publications.

Padrés has worked with clients across the financial institutions/power and oil and gas sectors, including advising the commercial and development banks in connection with the Enel Green Power portfolio project financing of three solar photovoltaic (PV) plants in Mexico. He has also advised the underwriters in connection with the US initial public offering of Vista Oil & Gas, S.A.B. de C.V.’s of approximately 10.8 million shares, including American Depositary Shares (ADSs), priced at $9.25 per share and per ADS, raising gross proceeds of approximately $101m.

What differentiates your Mexico-facing practice from those of your US competitors and peers?

As a native of, and attorney qualified to practice in, Mexico, my legal practice focuses on large-scale and complex transactions that have a major impact in the social, economic and well-being of the country. Most recently, I have advised on two unique portfolio financings relating to projects awarded under the auspices of the power auctions contemplated under the legislative framework created as a result of the constitutional energy reform of 2013. As an example, I led Shearman & Sterling’s representation of the commercial and development banks in the portfolio project financing of three solar photovoltaic plants in Mexico – Don José, Villanueva I and Villanueva III. Villanueva is the first energy project to start operation after Mexico’s energy reform came into effect, and once it became fully operational is the largest PV facility producing energy in the Americas.

I think what most distinguishes me from my peers is the degree of personal investment I have in the success of Mexico and the transactions in which I am involved – they are a reflection of the potential Mexico has economically and on the world stage.

Lastly, we work with the best Mexican firms for each transaction we are involved in – this allows us to bring the most talented and bright Mexican counsel to each transaction best suited for the needs of each particular transaction – some of our competitors are not as able to do so.

What are the advantages and disadvantages of advising Mexico-based clients from an office in the United States?

Thanks to technology and our steadfast commitment and dedication to client service, there really is no downside to advising Mexico-based clients from the US. We work continuously in Mexico on a wide variety of matters, so we’ve built both strong relationships and a reputation for excellent and efficient service regardless of where we are.

Additionally, our close proximity to Mexico in both New York and Houston has allowed and continues to allow us to visit our clients both proactively and for specific transactions whenever necessary. We are present and our clients have always appreciated that we are readily available to do so.

Our office in New York is also a significant advantage, as we are able to act as a bridge to New York bankers and financiers and international sponsors with a significant benefit for our clients and the Mexico-based firms with which we work.

What changes in the commercial and/or legal market do you anticipate in the 12 months ahead in Mexico?

Given the upheaval in national and global political and economic landscapes, we can expect continuing change within the Mexican market, and are seeing those changes unfold before our very eyes. The Mexican market will be a dynamic one in the year ahead and the ability to nimbly provide legal advice will be key to clients and stakeholders.

Despite the major reforms of 2013 – and, in part, because of the abrupt halt of portions of the implementation thereof – key financial and development players will need to be actively involved in the market and keenly aware of each development. As we anticipate a dynamic set of circumstances in the political, social, industrial, financial and macroeconomic arenas, being well-informed and able to “cut through the noise” will be essential to the success of any endeavor.

We expect to see more debate in the power and oil and gas sectors, and infrastructure generally, and will continue to pay close attention to, and participate in the dialog surrounding, any new legislation, and judicial and executive branch activity.

What influence will legal technology have on US/Mexico working practices in the future?

Legal technology will serve to enhance our already strong ability to work collaboratively and efficiently across borders. Co-counsels will be in a position to work more seamlessly together in a more integrated manner and efforts are already being made at a technological level to work electronically in real time.

What is your perception of in-house counsel’s priorities in terms of client service when working with US-based law firms?

In my experience when working with in-house counsel, it is clear that they prioritize in no particular order and rather in a holistic manner:

• Cost-effective solutions where value for money (and not cheap) is the key parameter on which outside counsels work is measured;
• A fundamental understanding of the Mexican regulatory landscape and up-to-date knowledge of political and legislative developments;
• “Cultural awareness” and understanding of “doing business” in Mexico; A willingness to collaborate and to help create and foster solutions;
• Excellent interpersonal skills and relationships with in-house counsel;
• Vertically integrated bilingual (preferably natively) teams;
• Awareness of the particular goals of each client at a transactional and at a corporate level and the ability to execute on those goals on a transaction to transaction basis;
• Effective implementation and use of legal project management tools in a manner that is relatable and representative of actual results that benefit the client.