Skip to main content

Oscar Stephens focuses on renewable energy and infrastructure financings, advising sponsors, developers and financial institutions in a wide variety of lending and capital markets deals with a cross-border component, particularly in Latin America. With more than twenty years practicing in his native Chile and international firms in the U.S., Oscar’s experience expands from unsecured and secured syndicated facilities to complex structured financings, including notes offerings under Rule 144A and Regulation S and private placements under Section 4(a)(2) of the Securities Act.

He represents banks, borrowers and issuers in diverse matters such as term and construction loans, project bonds, acquisition and leveraged financings, high-yield bond offerings, future flow securitizations, and receivables- and asset-backed financings. In addition to his close knowledge of the renewable energy and infrastructure industries representing sponsors and operators of solar projects, wind farms, international airports, highways and port terminals, Oscar has relevant experience in the oil & gas, banking, financial services, fintech and technology, telecom, manufacturing, and food & beverage industries.

Oscar also advises corporations in a development stage in their incursion into the U.S. market, guiding them in the organization of holding companies with operations in multiple jurisdictions and venture capital funding. Oscar frequently represents foreign financial institutions in connection with New York law matters and multi-currency facilities, counsels sovereign and quasi-sovereign entities with respect to U.S. securities laws, and supports Greenberg Traurig’s network regarding LIBOR transition issues.

Oscar conducts business in both English and Spanish and has broad experience in civil law jurisdictions throughout the Americas and legal structures used in non-recourse financing, together with providing advice in connection with public-private partnerships, concession and offtake agreements, and BOOT/BOT structures. Oscar’s bi-cultural background has allowed him to bridge differences and find common ground in complex transactions involving multiple jurisdictions.

Concentrations

  • Renewable energy
  • Infrastructure
  • Project finance
  • Capital markets
  • Private placements
  • Financial institutions
  • Securitization and structured finance
  • Securities and financial regulatory advice
  • Company formation
  • DFI, ECA, and sovereign wealth finance
  • Disclosure and reporting obligations
  • Distressed asset management, refinancing, and restructuring

Kompetencje

Doświadczenie

  • Represented a UK-based renewable energy fund in arranging the financing for the acquisition, construction and development of up to 20 photovoltaic project companies in Chile, with an expected total aggregate capacity of 169 MW.
  • Represented a Colombian private equity fund in the mezzanine financing via private placement for the acquisition of the minority interests in two port operator companies in Colombia, for an aggregate of $55 million.
  • Represented a Chilean renewable energy developer in the financing of a portfolio of 24 PMGD photovoltaic projects with a total capacity of 72 MWp, estimated at $86.6 million.
  • Represented a Chilean VAT lender as U.S. counsel in the financing of the acquisition of a portfolio consisting in 20 photovoltaic project companies in Chile, with an expected total aggregate capacity of 101 MW.
  • Represented a Uruguayan airport operator in the restructuring and issuance of $246 million in notes, issued in reliance on Rule 144A/Regulation S.
  • Represented a Chilean renewable energy developer in the offering and issuance of a $403 million green bond for the refinancing of two wind farms in northern Chile.
  • Represented a Mexican renewable energy sponsor in a $57 million syndicated loan facility to finance the acquisition of small-scale solar projects in Mexico.
  • Represented a Chilean VAT lender as U.S. counsel in the financing of the development and construction of 160 MWp solar photovoltaic project located in Valparaiso, Chile, and its transmission line.
  • Represented a Chilean VAT lender as U.S. counsel in the financing of construction of 231.5 MWp solar photovoltaic project located in Chile.
  • Represented a Chilean lender as U.S. counsel to finance the development and construction of four solar photovoltaic projects located in Chile under the PMGD regime.
  • Represented a Uruguayan airport operator in the restructuring of $200 million in notes, and the issuance of $195 million at PIK notes issued in reliance on Rule 144A/Regulation S.
  • Represented a Mexican sponsor in the structuring of a $240 million facility in connection with a 300 mwac PV photovoltaic power plant in Mexico. 
  • Represented a syndicate of international financial institutions in the bidding process to finance the desalination of a plant in Chile, under a B.O.O.T. format, with an estimated cost of construction of $1.2 billion.°
  • Represented the initial purchasers in the offering by a Cayman Islands SPV of $370 million in notes in reliance of Rule 144A/Regulation S, secured principally by the payment rights under a service contract between a Brazilian mining company and a Uruguayan port operator.°
  • Represented the sponsor in the offering by co-issuers located in Chile and Spain of $450 million in notes in reliance of Rule 144A/Regulation S, secured principally by power generating assets, including renewables, located in Chile and Panama.°
  • Represented the sponsor in an aggregate $100 million financing deal to acquire power-generating assets in Chile.°
  • Represented the initial purchasers in the offering by a Mexican trust of $275 million in notes in reliance of Rule 144A/Regulation S, secured principally by the payment rights under a service contract between a Mexican oil company and a Mexican oil services contractor.°
  • Represented a Chilean financial institution with respect to New York law matters in a $300 million financing deal to acquire infrastructure assets located in Chile by a Canadian asset manager.°
  • Represented the sponsor in the offering and sale by a Cayman Islands SPV of $150 million in notes issued in reliance of Regulation S, secured principally by revenues of a toll road located in the Philippines, simultaneous with a tender offer and consent solicitation of the original series of notes secured by the same revenue stream.°
  • Represented the initial purchasers in two offerings and sale transactions by two Panamanian SPVs of an aggregate $1 billion in notes issued in reliance of Rule 144A/Regulation S, secured principally by revenues of two toll roads located in Panama.°
  • Represented the initial purchasers in the offering and sale by a Cayman SPV of $270 million in notes issued in reliance of Rule 144A/Regulation S, secured principally by the payment rights under a service contract between a Brazilian oil company and a Brazilian drillship operator.°
  • Represented the initial purchasers in the offering and sale by a Cayman Islands SPV of $160 million in notes issued in reliance of Rule 144A/Regulation S, secured principally by revenues of a toll road located in the Philippines.°
  • Represented a Nasdaq-listed special purpose acquisition vehicle (SPAC) in a business combination with a Chilean fruit producer and exporter.
  • Represented a Mexican issuer in the offering and issuance of $300 million of notes privately placed with institutional investors in reliance of Section 4(a)(2) of the Securities Act, in connection with the acquisition of an electric transformer company in the United States.
  • Represented a U.S.-based in an "at-risk capital" facility to the sponsors of a SPAC.
  • Represented a U.S. banking institution in an "at-risk capital" facility to the sponsors of a SPAC.
  • Represented the initial purchaser in the offering and issuance of $100 million, and the subsequent reopenings for $40 million and $21 million in notes issued by a Paraguayan meat processing company, sold to investors in reliance of Rule 144A/Regulation S.
  • Represented a Chilean bank in the establishment of a Medium-Term Notes program listed with the Singapore Stock Exchange, in reliance of Regulation S, for up to an amount of $2 billion.°
  • Represented a Guatemalan bottling company in the offering and sale of S/67 million in notes issued in reliance of Regulation S, sold to Peruvian investors.°
  • Represented a Guatemalan bottling company in the offering and sale of $500 million in notes issued in reliance of Rule 144A/Regulation S, simultaneous with a tender offer of all outstanding notes.°
  • Represented a Salvadoran electricity distribution company in the offering and sale of $310 million in notes issued in reliance of Rule 144A/Regulation S, simultaneous with a tender offer of all outstanding notes.°
  • Represented a Guatemalan bank in two transactions involving the offering and sale of $500 million and $150 million in notes issued in reliance of Rule 144A/Regulation S.°
  • Represented a Guatemalan bottling company in two transactions involving the offering and sale of $200 million and $100 million in notes issued in reliance of Rule 144A/Regulation S.°
  • Represented the Republic of Ecuador in transactions involving the offering and issuance of the following series of notes in reliance of Rule 144A/Regulation S:°
    • $750 million of notes due by 2020, and subsequent reopening
    • $1 billion of notes due by 2022, and subsequent reopening
    • $1 billion of notes due by 2023, and subsequent reopening
    • $2 billion of notes due by 2024
    • $750 million of notes due by 2026, and subsequent reopening
    • $1 billion of notes due by 2027, and subsequent reopening
    • $2.5 billion of notes due by 2027
    • $3 billion of notes due by 2028
    • $1 billion of notes due by 2029
  • Represented a government-owned Ecuadorian oil and gas exploration company in the remarketing of $315 million in notes issued in reliance of Rule 144A/Regulation S, guaranteed by the Republic of Ecuador.°
  • Represented a Venezuelan oil company in the exchange and issuance under Rule 3(a)(9) of outstanding Rule 144A/Regulation S notes due 2017 for $3.3 billion of secured notes.°
  • Represented a Venezuelan oil company in transactions involving the offering and issuance of the following series of notes in reliance of Rule 144A/Regulation S:°
    • $3.7 billion of notes due by 2020
    • $2.4 billion of notes due by 2021
    • $3 billion of notes due by 2022
  • Represented an Ecuadorian bank in the issuance of a series of notes under its diversified payment rights securitization program for $200 million to a group of investors, to support female-owned small and medium business enterprises in Ecuador.
  • Represented a Nicaraguan bank in the establishment of its diversified payment rights securitization program, and its initial borrowing of $100 million from a group of investors.°
  • Represented an Ecuadorean bank in the establishment of its credit card voucher receivable securitization program, its initial borrowing of $100 million from a group of investors and a subsequent borrowing of $75 million from a group of investors.°
  • Represented a Salvadoran bank in the establishment of its diversified payment rights securitization program, its initial borrowing of $100 million from a group of investors and a subsequent borrowing of $150 million from a group of investors.°
  • Represented a Brazilian bank in multiple issuance of notes of its diversified payment rights securitization program, for an aggregate amount of $600 million, sold to accredited investors in private placements in reliance of Section 4(a)(2)/Regulation S.°
  • Represented a group of accredited investors in connection with the establishment of a Costa Rican bank’s diversified payment rights securitization program, and the initial issuance of $150 million of notes in a private placement in reliance of Section 4(a)(2)/Regulation S.°
  • Represented a Jamaican bank in the establishment of its credit card voucher receivable securitization program, and its initial issuance of $150 million of notes to a group of investors in a private placement in reliance of Section 4(a)(2)/Regulation S.°
  • Represented a group of accredited investors in connection with the issuance of $250 million of notes of a Panamanian bank’s diversified payment rights securitization program, in a private placement in reliance of Section 4(a)(2)/Regulation S.°
  • Represented a Guatemalan bank in multiple issuance of notes of its diversified payment rights securitization program, for an aggregate amount of $350 million, sold to accredited investors in private placements in reliance of Section 4(a)(2)/Regulation S.°
  • Represented a Salvadoran bank in the establishment of its diversified payment rights securitization program, and its initial borrowing of $175 million from a group of investors.°
  • Represented the initial purchasers in the offering and issuance of $465 million of notes of a Peruvian bank’s diversified payment rights securitization program, sold to investors in reliance of Rule 144A/Regulation S.°
  • Represented a Mexican real estate developer in a US $68 million facility for a Canadian bank for the acquisition of industrial property in Mexico. 
  • Represented a Wisconsin-based electric transformer company in a US $150 million facility with a Canadian bank, for the refinancing of existing debt and working capital.
  • Represented a Salvadorian bank in a US$30 million facility from a French development bank to support female-owned small and medium business enterprises in El Salvador.
  • Represented a Mexican borrower in a $370 million syndicated loan facility, in connection with the acquisition of an electric transformer company in the United States.
  • Represented a NY-based private equity firm in a $47 million facility to a Puerto Rican fund secured by assets in Puerto Rico.
  • Represented a Boston-based private equity fund in a $35 million facility to an agricultural Argentine company secured by assets in Argentina and Brazil. 
  • Represented a Mexican chemical company in an $80 million unsecured bridge loan financing with a U.S.-based bank.°
  • Represented a Japanese bank in a $50 million revolving facility to a Chilean iron producer to fund working capital.°
  • Represented a Chilean construction company in a $30 million unsecured financing with a U.S.-based bank to fund working capital.°
  • Represented a Chilean mining company in a joint venture with a Canadian mining company for the exploration of minerals in northern Chile.
  • Represented a Honduras-based group in a $50 million unsecured bridge loan financing with a U.S.-based bank to fund the acquisition of a bank in El Salvador.°
  • Represented the New York branch of a Chilean bank in a $20 million unsecured financing to a Spanish construction company to fund working capital.°
  • Represented the New York branch of a Chilean bank in a $40 million unsecured financing to a Mexican shipping company to fund working capital.°
  • Represented a Mexican oil & gas exploration company in a $100 million secured financing with a U.S.-based bank to fund the acquisition of natural gas assets.°
  • Represented a Guatemalan bottling company in a $60 million unsecured financing with a U.S.-based bank to fund the acquisition of a bottling company in Ecuador.°
  • Represented a Japanese bank in a $50 million secured bridge loan financing to Brazilian drillship operator.°
  • Represented the initial purchasers in the offering by a Cayman Islands SPV of $150 million in notes in reliance of Rule 144A/Regulation S, secured principally by real estate assets located in the Dominican Republic.°
  • Represented the initial purchasers in the offering and issuance of $160 million in notes by a Mexican trust, secured by assets and payment rights of a Mexican construction company, sold to investors in reliance of Rule 144A/Regulation S.°

°The above representations were handled by Mr. Stephens to his joining Greenberg Traurig, LLP.

Sukcesy i wyróżnienia

  • Listed, IFLR1000, "Notable Practitioner," Capital Markets: Debt, 2023
  • Listed, Legal 500 Latin America, 2020-2023
    • International Firms: Capital Markets, 2020-2023
    • International Firms: Banking and Finance, 2021
    • International Firms: Projects and Energy, 2023
  • Listed, The Legal 500 United States, Finance > Capital Markets: High-Yield Debt Offerings, 2022
    • "Recommended Lawyer," 2022
    • "Other Key Lawyer," 2022
  • Selected, Latin Lawyer, "Latin Lawyer 250 - Practice Recognition: Banking & Finance," 2020, 2022, and 2024
  • Selected, Latinvex, “Latin America's Top 100 Lawyers: Capital Markets,” 2018-2021
  • Listed, Diario Financiero, "One of the Most Influential and Promising Chilean Attorneys Abroad," 2020
  • Chambers Global, Banking & Finance (Experts Based Abroad – Chile), 2013
  • President, North American-Chilean Chamber of Commerce, 2022-Present
    • Director, 2013-2021
  • Board of Directors, Gabriela Mistral Foundation, Inc., 2023

Kwalifikacje

Wykształcenie
  • LL.M., Northwestern Pritzker School of Law
  • J.D., cum laude, Pontificia Universidad Católica de Chile
Posiadane uprawnienia
  • New York
  • Republic of Chile
Znajomość języków
  • hiszpański, ojczysty