Richard Fleming is counsel in the Tokyo office of Latham & Watkins and a member of the Finance Department. Mr. Fleming's practice focuses on project development and finance transactions, with a background in leveraged and acquisition finance.
Mr. Fleming regularly represents both sponsors and lenders in large, complex financings and has extensive experience in power project transactions in the Philippines, Indonesia, and other regions throughout Asia.
Prior to joining Latham, Mr. Fleming worked in the Los Angeles office of a large international law firm where he represented commercial and investment banks, private equity sponsors, as well as private and public companies in connection with bank and acquisition finance matters, refinancings, and restructurings.
Mr. Fleming’s representative project finance matters include advising:
- San Miguel Corporation (Philippines) in its US$1.9 billion acquisition of Masin-AES Pte. Ltd. from AES and the EGCO Group. This transaction involves the acquisition of the 630 MW Masinloc coal-fired power plant, its expansion under construction, and the 10 MW Masinloc energy storage project in Zambales, Philippines.
- Tanjung Jati B 5 & 6 Power Project, Indonesia – the export credit agencies and commercial bank lenders in the US$3.35 billion project financing of the 2x1,000 MW Tanjung Jati B 5 & 6 coal-fired power project expansion in Central Java, Indonesia.
- Redondo Peninsula Energy, Philippines - Meralco PowerGen Corporation, Aboitiz Power Corporation, and Taiwan Cogeneration International Corp. in the project financing of a new 300-MW coal-fired power plant in Subic, Zambales, Philippines.
- San Buenaventura Power Project, Philippines - Meralco PowerGen Corporation in the project financing of the San Buenaventura power project, a 455-MW coal-fired generating facility in Quezon, Philippines. This transaction was named Asia-Pacific Power Deal of the Year by Project Finance International (PFI).
- Limay Power Project, Philippines - San Miguel Corporation and commercial banks in the project financing of the Limay Power Plant, a 300-MW coal-fired generating facility in Limay, Philippines. This transaction was named Asia-Pacific Power Deal of the Year by IJGlobal.
- Pagbilao 3 Expansion Project, Philippines - TeaM Energy Corporation (a subsidiary of Tokyo Electric Power Company (TEPCO) and Marubeni Corporation) and Aboitiz Power Corporation, in the development and financing of the 400-MW coal-fired Pagbilao 3 expansion project in the Philippines.
- TeaM Energy Refinancing, Philippines - the Tokyo Electric Power Company (TEPCO) and Marubeni Corporation, in connection with TeaM Energy’s US$220 million mezzanine facility.
- Cameron LNG Project, USA - the export credit agencies and commercial banks in the US$7.4 billion financing of the Cameron LNG project in Louisiana, USA.
- Ichthys LNG Project, Australia - the export credit agencies and commercial banks in the US$20 billion financing of the Ichthys LNG project in Western Australia.
- Senoko Energy Refinancing, Singapore - Senoko Energy Pte. Ltd in the US$875 million refinancing for the repowering of its 2x430MW gas-fired combined cycle plants in Singapore.
- Jurong Aromatics Petrochemicals Project, Singapore - Jurong Aromatics Corporation Pte. Ltd in the US$2.63 billion financing of the Jurong Aromatics petrochemicals project in Singapore.
- PT Smelting Project, Indonesia - Mitsubishi Materials Corporation in the refinancing of its US$300 million working capital credit facility for the PT Smelting copper smelter project in Gresik, Indonesia.