Thomas Pate

Partner, New York

Biography

“Thoughtful, calm and straight to the point… proactively looks for solutions.”
Chambers Latin America Guide 2023

Overview

Thomas advises sponsors, lenders and other investors (including investment banks, funds and institutional investors) in complex, and many times cutting-edge, project and structured finance transactions, PPP transactions and on other financing arrangements across a number of emerging markets, and primarily in Latin America and the Caribbean.

Thomas is a resident of the Firm's New York Office and he receives high praise for his pragmatic solution-oriented approach. Some of the recent transactions that Thomas has led have received industry-wide recognition, including "Infrastructure Financing of the Year: Central America" and "Infrastructure Financing of the Year: Southern Cone" by LatinFinance, "Project Finance Deal of the Year: Energy" by Latin Lawyer, "Latin America PPP Deal of the Year" by Proximo Awards, "Structured Bond of the Year" by Bonds & Loans Latin America Awards and "Latin America Renewables Project Finance Deal of the Year" by Power Finance & Risk and Bonds & Loans.

Bars and Courts
New York State Bar
District of Columbia Bar
Florida State Bar
Venezuela
Education
LLM
Harvard Law School
JD
University of Miami School of Law
JD (equivalent)
Universidad Católica Andrés Bello
Languages
English
Spanish

Experience

USPP for PMGD Projects in Chile
Representation of the placement agent and purchasers in connection with the US$290,000,000 purchase and sale of notes issued by Matrix Renewables Chile SpA, the proceeds of which will be used to finance a 328 MW portfolio of PMGD projects in Chile. The notes were issued in the form of a private placement under Section 4(a)(2) and Regulation D of the Securities Act. BNP Paribas acted as placement agent for the transaction. 

Smart City Project in Brazil
Representation of a group of sponsors in the financing for the largest integrated smart city project in Latin America, which is located in the City of Rio de Janeiro, Brazil. The financing took the form of an issuance of senior secures notes to certain investors in reliance on Rule 144A and Regulation S of the U.S. Securities Act. The Notes are guaranteed by the U.S. International Development Finance Corporation ("DFC") and Goldman Sachs acted global coordinator, sustainability bond structuring agent and initial purchaser.

Acquisition of Colbún Transmisión
Representation of Alfa Desarrollo SpA, a consortium controlled by APG Energy and Infra Investments, S.L.U. and Celeo Redes, S.L.U., as borrower and issuer, in the structuring and closing of the senior secured financing for the $1.3 billion acquisition of Colbún Transmisión, S.A. (including 899 kms of transmission lines and 27 substations).

Limited Recourse Financing for Port in Türkiye
Representation of UBS AG London Branch, as sole global coordinator and sole structuring advisor, initial purchaser and joint bookrunner, and Merrill Lynch International, as initial purchaser and joint bookrunner, in a private placement of US$370 million in aggregate principal amount of 9.50% senior secured notes due 2036 by Limak İskenderun Uluslararası Liman İşletmeciliği A.Ş. (LimakPort). The proceeds are to be used in connection with the expansion and operation of the international multi-purpose conventional and container cargo port located on the Mediterranean Sea in southeastern Türkiye.

USD PPA Financing in Brazil
Representation of Atlas Renewable Energy, as sponsor, and certain of its affiliates, as borrower and guarantors, in connection with a breakthrough US Dollar financing the proceeds of which will be used to develop the 187 MWp New Juazeiro solar power project. 

Electricity Tariff Stabilization Securitization in Chile
Representation of a group of independent power generators in Chile, including Aela Generación, Cerro Dominador, Chungungo, Empresa Eléctrica Carén, GM Holdings and Santiago Solar, in connection with closing a receivables purchase and sale facility to monetize receivables with a face value of approximately US$185 million.

PMGD Portfolio Financing in Chile
Representation of Solek Holding SE and certain of its subsidiaries in a senior secured credit facility the proceeds of which will be used to develop PMGD projects with an aggregate installed capacity of 110MW.

Atlas Renewable Energy (Chile)
Representation of Atlas Renewable Energy, as sponsor in connection with its US$253 million issuance of notes in the form of a private placement under Section 4(a)(2) and Regulation D of the Securities Act of 1933. The innovative transaction is the largest solar PV green private placement in Latin America to date. The proceeds of the notes are expected to be used to (i) develop and construct a 244 MWp solar project and (ii) refinance an existing 70 MWp solar project, both of which are located in Chile. 

Rutas 2 and 7 Project
Representation of Sacyr Concesiones S.L. and Ocho A S.A., as sponsors, Rutas del Este S.A., as borrower, and Rutas 2 and 7 Finance Limited, as issuer, in the US$458 million zero coupon Rule 144A/Regulation S bond arranged by Goldman Sachs & Co. LLC, acting as sole global coordinator and a US$200 million working capital and long-term project finance facilities provided by the Inter- American Development Bank, in each case for the design, construction, operation and maintenance of the 2 and 7 Road Project in Paraguay. 

Salaverry Port Project
Representation of Trabajos Marítimos S.A., as sponsor, and Salaverry Terminal Internacional S.A. (STI), as borrower, in connection with limited recourse financing the proceeds of which will be used to expand the Salaverry Multipurpose Port in Peru.

LNG to Power Project
Representation of Invenergy and Energía del Pacifico, Ltda. de C.V., as sponsor and borrower respectively, in the development and financing of a 378 MW power plant in El Salvador and its related infrastructure, including a floating storage and regasification unit (FSRU) permanently moored through a modified spread mooring system for liquefied natural gas (LNG) delivery, storage, and regasification, as well as a natural gas pipeline running from the FSRU to the power plant.

Atlas Renewable Energy (Uruguay)
Representation of Atlas Renewable Energy in connection with its US$114.4 million, long-term financing for two solar power projects in Uruguay. The two projects use 238,720 solar panel modules with an installed capacity of 75.8MWp. Atlas estimates the plants will remove 55,500 tons of carbon dioxide emissions annually and power close to 50,000 homes.

Project Huatacondo
Representation of Banco BICE, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Iyo Bank, Ltd. and Nippon Export and Investment Insurance in connection with the negotiation and execution of the financing documents for a non-recourse project financing for a 98 MW PVac one axis tracker solar photovoltaic power generation plant known as Project Huatacondo, located in the region of Tarapacá, Chile, and its related 10km 200kv high tension transmission line.

Awards and Recognition

Next Generation Partner, The Legal 500 Latin America, Projects and Energy, 2021