Perfil
Oscar Stephens focuses on renewable energy and infrastructure financings, serving as a trusted advisor to sponsors, developers and financial institutions. His practice encompasses a diverse range of lending and capital markets transactions, with a notable focus on cross-border component, particularly within the dynamic landscape of Latin America. With more than twenty years practicing in his native Chile and international firms in the U.S., and a deep understanding of global markets, Oscar’s experience spans 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, and counsels sovereign and quasi-sovereign entities with respect to U.S. securities laws.
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
Capacidades
Experiencia
- Represented a Chilean renewable energy developer in the restructuring of its existing liabilities resulting in a pre-pack Chapter 11 proceeding, resulting in the issuance of US$264 million of take-back senior secured notes, US$14 million of super priority notes and US$160 million of convertible notes.
- Represented a U.S. sponsor in a US$202 million private placement refinancing of 21 photovoltaic project companies in the United States, resulting in the refinancing of its original tax-equity financing.
- 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 Chilean bank as U.S. counsel in the US$150 million private placement refinancing of 38 photovoltaic project companies in Chile.
- Represented a government-controlled Trinidadian company in the US$100 private placement issuance of notes secured by the revenue of a port located in Port of Spain.
- 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 the initial purchaser in the offering of $400 million of notes issued by a Salvadoran government-controlled entity in reliance of Rule 144A/Regulation S.
- 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 an Ecuadorian bank in the issuance of a series of notes under its diversified payment rights securitization program for $100 million to a commercial bank.
- 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 Chilean investor as creditor in connection with a major Chapter 11 reorganization of a large telecommunications company.
- Represented a U.S. commercial bank in the structuring of an asset-backed facility related to a Mexican sponsor’s auto-loan financing business line in the United States.
- Represented a Mexican bank in the structuring of an asset-backed facility related to a German sponsor’s iron ore operations in Mexico.
- 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.
°The above representations were handled by Mr. Stephens to his joining Greenberg Traurig, LLP.
Reconocimientos y Liderazgo
- 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
Credenciales
- Maestría en Derecho (LL.M.), Northwestern Pritzker School of Law
- J.D., cum laude, Pontificia Universidad Católica de Chile
- Nueva York
- Republic of Chile
- Español, Nativo