Veronica Relea is a partner in the New York office of Latham & Watkins and a member of the Project Finance Practice. Ms. Relea has significant experience representing project developers and lenders in highly structured and complex finance transactions.
Ms. Relea’s practice focuses on representing commercial and investment banks, sponsors, developers, and private equity firms in connection with the development, construction, operation, and financing of energy, oil and gas, and infrastructure projects (including LNG projects, fuel storage facilities, renewable energy assets, and mining assets). She also has extensive experience in leveraged finance transactions, including acquisition financings, asset-based facilities, private equity transactions, mezzanine facilities, and cross-border financings.
Ms. Relea has developed a robust Latin America practice, advising clients on a range of complex finance transactions. Her seasoned guidance on banking and finance matters has earned recognition from Latinvex as one of Latin America's top 100 female lawyers. Ms. Relea has also been recommended for her work in Banking and Finance as well as Projects and Energy by The Legal 500 Latin America and The Legal 500 US.
Ms. Relea is a native of San Juan, Puerto Rico, and is fluent in Spanish and proficient in Portuguese and French. She co-founded the firm’s associate-driven diversity initiative, the Multicultural Promotion and Attainment Coalition.
Ms. Relea’s selected matters include representation of the following:
- First Reserve (now BlackRock) in a US$607 million acquisition and subsequent leaseback by Pemex Transformacion Industrial, a subsidiary of Pemex, of the Ultra-Low Sulphur Gasoline (ULSG) assets attached to its refinery located in Madero, Mexico (one of the more significant investments by private equity in the Mexican energy sector post reforms)
- ArcLight Capital Partners in a joint venture with Blackstone involving the US$2.1 billion acquisition of power generation assets in Ohio and Indiana from American Electric Power (AEP)
- ArcLight Capital Partners and Limetree Bay Terminals, LLC (LBT) in connection with a US$440 million term loan financing relating to LBT's acquisition of a large-scale storage terminal, refinery and marine facility in St. Croix, U.S. Virgin Islands (formerly owned by HOVENSA)
- Energy Capital Partners, and a consortium of investors, in the US$5.6 billion all-cash bid to acquire Calpine Corporation, a Houston-based wholesale power generation company
- Panda Sherman Power, LLC in its US$360 million refinancing by Beal Bank in support of the Panda Sherman Energy Center, a combined cycle natural gas-fired generating facility located in Texas
- Crédit Agricole and Sumitomo Mitsui Banking Corporation in a US$350 million senior secured asset based financing relating to the construction, ownership, and leasing of certain vessels and fluvial equipment in Colombia (winner of the "Syndicated Loan Deal of the Year" 2015 by LatinFinance)
- Andes Mining and Energy in connection with several credit facilities for the development of several energy projects in Chile including the Octopus LNG project
- Credit Suisse as agent and arranger in a US$250 million term loan facility for a privately-held ash management company
- Summit Partners and Riverstone Credit Partners in a US$100 million term loan financing for White Stallion Energy, LLC in connection with its acquisition of two coal mining companies
- Energy Capital Partners and Summit Midstream Partners Holdings in connection with the US$300 million project financing related to a portfolio of midstream energy infrastructure assets in five resource basins in Ohio, West Virginia, Colorado, North Dakota, and Texas
- Mizuho Bank in a US$275 million financing of the Jumbo Road Wind Project, part of Berkshire Hathaway Energy’s renewable energy portfolio, an approximately 300 MW wind project located in Texas
- Energy Capital Partners in several acquisition financings and refinancings and repricings of existing indebtedness of several of its portfolio companies
- Sumitomo Mitsui Banking Corporation in connection with a US$350 million letter of credit facility for Cameron LNG, LLC, owner of natural gas liquefaction facilities in Louisiana