Luis Torres is counsel in the Washington, D.C. office of Latham & Watkins. Mr. Torres's practice focuses on representing commercial and multilateral lenders and global investment management firms in the financing of power, oil and gas, and petrochemical projects in emerging markets. He also frequently represents global majors and private equity investors acting as sponsors in the development and financing of infrastructure projects. Mr. Torres’s experience includes loan financings, export credit facilities, equity and semi-equity investments, asset acquisitions, debt restructurings, structured finance products, and local currency financings. In addition to his work on the power, oil and gas, and petrochemical industries, Mr. Torres has worked on transactions in the banking, mining and transportation sectors. Mr. Torres has worked in transactions in some of the most dynamic and challenging emerging markets, including Argentina, Brazil, Colombia, India, Jamaica, Kenya, Mexico, Nigeria, Turkey, Russia, Ukraine, and Venezuela. These transactions have involved sponsors, lenders, and other investors based in France, Germany, Japan, Spain, South Korea, the UK, and the US, among other jurisdictions.
Mr. Torres served on assignment at the Legal Department of the International Finance Corporation (IFC) in Washington, D.C. from September 2002 through October 2004. While at the IFC, he focused on financings for the petrochemicals, oil and gas, mining, and banking sectors, especially in Latin America.
Mr. Torres was included in the 2012 inaugural edition of The Legal 500 Latin America guide, and again each year from 2013 through 2017, as a recommended attorney in the Project & Energy and Banking & Finance categories.
Mr. Torres is fluent in Spanish and Portuguese, and proficient in Italian and French.
Mr. Torres's representative matters include:
- Caribbean/Marubeni – Acquisition and Bridge Financings 2007. Represented Marubeni Corporation (Marubeni) and its subsidiary Marubeni Caribbean Power Holdings, Inc. (MCPH) in the acquisition of power generation assets located in The Bahamas, Curacao, Jamaica, and Trinidad & Tobago, and the bridge financings relating to such acquisition. The acquisition closed in the summer of 2007 and the acquisition value exceeded US$1 billion. The bridge financing facilities reached approximately US$600 million and closed successfully in the summer and fall of 2007.
- Kenya and Uganda/RVR. Represented the sponsors and the concessionaire in connection with the refinancing of two concessions to provide railway services in connection with the Rift Valley Railroad (RVR) project in Kenya and Uganda. The refinancing of the original project financing closed in 2011 with the participation of six direct lenders and a participating bank.
- Brazil/ATE II. Represented IDB in connection with the proposed additional limited recourse financing of the ATE II transmission project in Brazil. The project consists of a 1,200-MW, 937 km, 500 kv electrical energy transmission line crossing several Brazilian states. Total project value is approximately US$459 million.
- Brazil/ATE III. Represented IDB in connection with the proposed expansion and additional limited recourse financing of the ATE III transmission project in Brazil. The project consisted of the construction of electrical transmission lines through certain northern states of Brazil.