Thomas Pate

Partner, New York

Biography

Thomas is “always responsive and able to fully grasp any concern of the client and knows how to mitigate it”
The Legal 500, Banking and Finance

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 "Structured Bond of the Year" by Bonds & Loans Latin America Awards 2019 and "Latin America Renewables Project Finance Deal of the Year" by Power Finance & Risk and Bonds & Loans 2018.

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

Representative matters include:

Ongoing representation of the sponsors in private placement financings for power projects in Chile.

Ongoing representation of the underwriters in the financing of an LNG-to-power project.

Ongoing representation of the sponsors in the development and financing of a multi-purpose seaport in Peru.

Ongoing representation of the sponsors in the development and financing of renewable power projects in Argentina.

Ongoing representation of the arrangers in the development and financing of a petrochemical project in Colombia. 

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. 

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. This was the largest private investment in the history of Paraguay to date and Paraguay's first public-private partnership (PPP).

Atlas Renewable Energy in a limited recourse financing for a portfolio of solar projects in Uruguay. The financing took the form of an A/B loan provided by the Inter-American Investment Corporation and the issuance of securities purchased by a group of both senior and subordinated investors in a private placement under Section 4(a)(2) and Regulation D of the Securities Act of 1933 ("B Bond").

Banco BICE, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Iyo Bank, Ltd. and Nippon Export and Investment Insurance in connection with the 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 10 km 200 kv high tension transmission line.

Corporación Andina de Fomento and DEG – Deutsche Investitions- Und Entwicklungsgesellschaft MBH in connection with financing for a hydroelectric power project in Peru with an installed capacity of 84 MW.

Invenergy LLC in the refinancing of wind projects in Uruguay pursuant to an A/B loan provided by the Inter-American Investment Corporation and the issuance of securities purchased by a group of investors in a private placement under Section 4(a)(2) and Regulation D of the Securities Act of 1933 ("B Bond").

Concesionaria Vial Sierra Norte S.A., as borrower, in connection with a US$200 million project financing for the development, construction, operation and maintenance of the 875 km toll road project "Longitudinal de La Sierra – Tramo 2".

Banco BICE, CaixaBank, CorpBanca and DNB Group, as lenders, in connection with a long-term project financing for the development of the Laberinto Project, a 146MWp Solar Photovoltaic Plant in Chile.

Terminal Internacional del Sur S.A., as borrower, and Santa Sofia Puertos S.A., as sponsor, in connection with the US$280 million limited-recourse project financing of the expansion of the Matarani Port in the Islay district of Arequipa, Peru.

Odebrecht S.A. in the development and financing of the 456 megawatt Chaglla hydroelectric power project in Peru and the later US$1.39 billion sale of the same to a consortium headed by China Three Gorges Corp.

Publications

"Triple-A Rating Stench: May the Credit Rating Agencies be Held Accountable?" 3 J. App. Econ. 13 (2010)

"Evaluating Stabilization Clauses in Venezuela's Strategic Association Agreements for Heavy-Crude Extraction in the Orinoco Belt: The Return of a Forgotten Contractual Risk Reduction Mechanism for the Petroleum Industry," 40 U. Miami Inter-Am. L. Rev. 347 (2009) 

"Venezuela, in Aircraft Repossession and Enforcement: Practical Aspects," Kluwer International Law, 2009 (co-author)

"The Past, Present and Future of the Arbitral Clause in Foreign Investment Legislation: In Pursuit of the Balance," on file at Langdell Law Library, Harvard Law School (2006)

Awards and Recognition

The Legal 500 Latin America, Banking and Finance, Next Generation Lawyer

The Legal 500 Latin America, Projects and Energy, Next Generation Lawyer

Chambers and Partners, Chambers Global: Spotlight, Banking & Finance (USA)

Chambers and Partners, Chambers Global: Experts Based Abroad, Banking & Finance