Shearman & Sterling LLP

Projects Department

USA - Nationwide
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What the team is known for Broad projects practice, able to assist clients across the full gamut of energy project finance and development matters. Active for both lenders and sponsors on a wide range of domestic and international energy projects. Well regarded for its strength in mining work across the globe. Assists both borrowers and traditional and alternative financiers in financing matters throughout the Americas and Africa. Adept at areas as diverse as gas power station financing and transportation matters in the PPP space. Also recognized for downstream oil and gas facility financing.

Strengths Sources note: "They can work on several separate assignments at the same time with no issues at all."

Interviewees report: "They are responsive, make good and relevant contributions to bids and work well with various parties to ensure everyone is comfortable and nothing is missed."

Market commentators highlight: "It's a very strong team that has a good stable of young lawyers and senior associates."

Sources say: "They're very knowledgeable as well as very patient and clear in their explanations. They understand clients' needs and make them feel very comfortable."

Peers comment: "It's a professional and focused team that can handle a lot of deals with alternative financing structures."

Work highlights Acted as New York and English counsel to Nevada Copper in the structuring, negotiating and closing of a $350 million project financing for the Pumpkin Hollow copper mining project in Yerington, Nevada.

Acted for the Environmental Protection Agency in a secured loan for the expansion of the Carlsbad desalination facility in San Diego, California. The project is undertaken as a PPP transaction under a long-term Water Purchase Agreement.

Represented INEOS in connection with the development of its virtual natural gas liquids pipeline between the US and its European facilities. The firm handled negotiation and drafting of various purchase and sale agreements as well as transportation and terminaling agreements.

Advised the sponsors and borrowers in connection with an aggregate capital raise of $740 million to finance the development and operation of an approximately 850 MW greenfield combined-cycle natural gas-fired power plant in the Axapusco municipality, Mexico.

Notable practitioners

Cynthia Urda Kassis
is widely renowned for her expert representation of lenders and borrowers in international project finance across the mining sector. Clients highlight: "She is one of the best lawyers in New York. She understands the complexities, inter-creditor relations and the wealth of details involved in projects. She's devoted to her clients and works well with other parties."

One source says
David Ullman
's "recall of diligence and legal questions is amazing," while another highlights: "I was impressed by the quality and timing of each deliverable and transaction document that he drafted or reviewed." An associate to watch in the PPP space, he has experience assisting public and private sector clients with infrastructure development and financing.

Gregory Tan
has an impressive lender-side practice, managing project finance and development work across the entire energy sector as well as in PPP infrastructure. Interviewees highlight: "He's super smart and super creative."

Hugh Tucker
is noted for his robust oil and gas sector practice advising clients on development, finance, M&A and joint venture matters. Clients say: "You can tell he is on top of the issues in the way he researches and talks to counterparties. He explains things very well; you don't have to worry as everything is done smoothly."

Paul Epstein
is equally adept at advising public bodies and lenders on the development and financing of PPP projects. Sources say: "He knows the requirements of a deal and how to work through them."

Robert Freedman
has an impressive track record of advising private equity funds, institutional investors and commercial banks on complex and high-value financings for conventional and renewable power projects. Sources note: "He's reasonable, pragmatic and can easily handle complicated deals involving several stake-holders."