Thomas advises sponsors and other investors (including bank lenders, investment banks, funds and institutional investors) on development and project, structured and acquisition ﬁnance transactions in the power and infrastructure industries.
Thomas is a resident of the Firm's New York ofﬁce and he receives 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.
USPP for PMGD projects in Chile
Representation of the placement agent and purchasers in connection with the US$290 million 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. This deal was awarded "Latin America Renewables Deal of the Year" by IJGlobal.
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 US Securities Act. The notes are guaranteed by the US International Development Finance Corporation (the "DFC") and Goldman Sachs acted as global coordinator, sustainability bond structuring agent and initial purchaser. This transaction has been recognized as "Infrastructure Financing of the Year – Brazil" by LatinFinance, "Latin America Social Infrastructure Deal of the Year" by IJGlobal and "Latin America PPP Deal of the Year" by Proximo Awards.
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 US$1.3 billion acquisition of Colbún Transmisión, S.A. (including 899 kms of transmission lines and 27 substations).This transaction was awarded "Bond of the Year" by LatinFinance.
Limited recourse financing for port in Turkey
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 Turkey.
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. This transaction won "Latin America Solar Deal of the Year" by Proximo Awards.
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 110 MW.
Desalination project in Chile
Representation of Lumina Capital Management, as administrative agent and lender, in connection with a US$170 million senior secured financing, the proceeds of which will be used to finance a portion of a desalination project in Chile.
Largest solar PV green private placement in Latin America
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 road 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 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 the limited recourse financing and subsequent refinancing for the development, construction, maintenance and operation of the Salaverry Multipurpose Port, located in the department of La Libertad in the Republic of Peru. The limited recourse financing and refinancing were recognized as "Infrastructure Financing of the Year" by LatinFinance and "Ports Deal of the Year" by Proximo Awards, respectively.
Sonnedix non-recourse, mini-perm project financing
Representation of Sonnedix, a global solar independent power producer (an "IPP") with operations in ten countries, on a non-recourse, mini-perm project financing for a portfolio of greenfield and operating solar photovoltaic projects in Chile. The transaction consists of an initial portfolio of nine projects for a combined minimum capacity of 70 MWp under Chile's PMGD (Pequeños Medios de Generación Distribuida) regime, which enables renewable projects with an installed capacity of nine MW or less to sell energy to the system under a stabilized price tariff. Loan proceeds will be used to refinance existing indebtedness for four operational projects, along with the acquisition, construction and development of five greenfield projects.
Leading Lawyer, Chambers Latin America, Project Finance, 2023
Next Generation Partner, The Legal 500 Latin America, Projects and Energy, 2023