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Alex M. Herman

Partner, Corporate Department

alexherman@paulhastings.com

New York

Phone: 1(212) 318-6089
Fax: 1(212) 303-7089

Overview

Alex Herman is Partner in the Latin America and Corporate practices of Paul Hastings and is based in the firm’s New York office. Ms. Herman focuses on representing public and private companies and financial institutions in cross-border capital markets, private equity, and financing transactions, particularly those involving Latin American projects or parties. Her experience includes debt and equity offerings pursuant to Rule 144A/Regulation S, cash flow securitizations, and private placements across a variety of industries including the energy and infrastructure sectors. She also advises on periodic SEC reporting obligations and regulatory and compliance matters under the U.S. securities laws. Prior to joining Paul Hastings, she practiced with another multinational law firm in New York.

Ms. Herman received her J.D. from Georgetown University Law Center where she was a student fellow at the Harrison Institute for Public Law, focusing on international investment law and policy, and the Alumni Relations Chair for the Georgetown Journal of Law & Modern Critical Race Theory. She also holds an A.B. in Political Science and Cultural Anthropology from Duke University.

Recognitions

  • Named "Rising Legal Star in Latin America" by Latinvex, 2021

Education

  • Georgetown University Law Center, J.D., 2013
  • Duke University, A.B., 2007

Representations

  • Represented EnfraGen Energía Sur, S.A.U., Prime Energía SpA, and EnfraGen Spain, S.A.U., indirect subsidiaries of EnfraGen, LLC, a developer, owner, and operator of grid stability and renewable businesses in Latin America, in their debut issuance of US$710 million 5.375% senior secured notes due 2030 pursuant to Rule 144A/Regulation S, combined with a pari passu tranche of US$1.05 billion bank debt.
  • Represented Braskem Idesa, S.A.P.I., the largest polyethylene producer in Mexico and a subsidiary of Braskem S.A., one of the largest petrochemical companies in the world, in an international offering of Senior Secured Notes. The over-subscribed offering involved the issuance of USD900 million of 7.450% Senior Secured Notes due 2029 pursuant to Rule 144A and Regulation S. The joint book-runners were Citigroup, Santander and SMBC.
  • Represented TransJamaican Highway Limited, a Jamaican toll road concessionaire that holds a 35-year concession for the design, construction, operation and maintenance of “Highway 2000 East-West,” the largest infrastructure project in Jamaica, in its debut international project bond offering of U.S.$225 million 5.75% Senior Secured Notes due 2036 pursuant to Rule 144A and Regulation S.
  • Represented Line One Peru Metro Expansion Company Limited (the Issuer), GyM Ferrovías S.A. (the Concessionaire) and Graña y Montero S.A.A. (the Majority Shareholder) in the issuance of USD273.2 million in dual-tranche 4.737% senior secured notes due 2033 (the “Notes”), a Rule 144A and Regulation S project-bond to refinance CPAOs issued by the Peruvian government in exchange for certain investments related to the expansion, adaptation and improvement of the Lima-Callao Mass Transit System Line 1 Electric Train Line in Perú. Mizuho Securities acted as Sole Structuring Agent, Global Coordinator and Sole Active Bookrunner for the Notes, and SMBC Nikko acted as Passive Bookrunner for the Notes. This was the first project bond issued in Latin America in 2019.
  • We also represented the same parties in the issuance of an additional USD72.4 million 3.483% senior secured notes due 2033 with similar documentation to finance the final tranche of CPAOs as part of the same project and same refinancing.
  • Represented Credit Suisse and First Citizens Bank as the initial purchasers in connection with the Government of the Republic of Trinidad and Tobago’s international bond offering of US$500 million Notes due 2030 pursuant to Rule 144A and Regulation S.
  • Represented Trinidad Petroleum Holdings Limited (TPHL), an integrated national oil and gas company owned by the Government of Trinidad and Tobago and key to the economic health of Trinidad and Tobago, in its issuer-led exchange offer for approximately US$570 million of new Senior Secured Notes due 2026, which was part of a refinancing transaction of approximately US$900 million of outstanding notes that also included a US$603 million, dual-tranche term loan facility.
  • Represented Sociedad Argentina de Construcción y Desarrollo (SACDE) in the structuring of its bid for, and bank-bond financing of, two toll roads in Argentina under the new Argentine PPP Contract.
  • Represented Concesión Ruta al Mar S.A.S., a subsidiary of the Colombian construction company Construcciones El Condor S.A., in financing the construction, operation and maintenance of the 4G Antioquia-Bolívar highway in Colombia. The project is the first 4G toll-road project in Colombia developed as an iniciativa privada, a concession proposal unsolicited by the Colombian government. The US$488 million financing package was priced in Colombian pesos and consists of a series of 26-year, UVR-denominated notes and three credit facilities.
  • Represented GyM Ferrovias S.A., a subsidiary of the Peruvian construction company Graña y Montero S.A.A., its 2017 US$396 million CPAO-backed financing (a so-called “milestone financing”) of the expansion of Line 1 of the Lima metro, which includes construction risk in the form of civil works, including station expansions, and train and car acquisitions. The financing included a working capital revolving facility, a back-to-back financing with another SPV that will receive the CPAOs and reimburse the revolver disbursements as well as other international financing.
  • Represented Credit Suisse and other lenders in connection with a five-year, US$42 million syndicated loan to a Colombian tugboat company secured by maritime collateral spanning multiple Caribbean and Latin American jurisdictions.
  • Represented Trinidad Generation Unlimited, which owns the largest power generation plant in Trinidad and Tobago, in connection with its debut international bond offering of US$600 million Senior Unsecured Notes due 2027 pursuant to Rule 144A and Regulation S.
  • Represented Morgan Stanley and JPMorgan, as global coordinators and initial purchasers, in the approximately US$912 million IPO of common stock by Becle, S.A.B. de C.V., the parent company of Jose Cuervo, a globally recognized spirits company and the largest producer of tequila in the world. The offering was the largest IPO out of Mexico since 2013.
  • Represented the Government of Jamaica in connection with an international bond offering of US$743.2 million new notes in a reopening of Jamaica’s 8.000% Amortizing Notes due 2039 pursuant to Regulation S, and a concurrent cash tender offer for its outstanding 10.625% Notes due 2017 and 8.000% Amortizing Notes due 2019.
  • Represented Credito Real, S.A.B. de C.V., one of the largest specialty finance companies in Mexico, in an international bond offering of US$625 million of 7.25% Senior Notes due 2023 pursuant to Rule 144A and Regulation S, and a concurrent tender offer for up to $425 million of its outstanding 7.500% Senior Notes due 2019 issued in 2014, and related consent solicitation.
  • Represented the Government of Aruba in a dual tranche international private placement.
  • Represented Peruvian Coca-Cola bottler Corporación Lindley in connection with their cash tender offer for $200 million aggregate principal amount of their outstanding 4.625% Notes due 2023 and 6.750% Notes due 2021.
  • Represented Morgan Stanley, Citigroup and Santander as global coordinators, and seven other international banks, as initial purchasers, in connection with the US$1.2 billion securitization of certain government-backed payment rights related to the greenfield financing of Metro Lima's Line 2 in Peru.
  • Represented YPF S.A. in connection with their issuance of US$1.5 billion 8.5% Senior Notes due 2025 under Rule 144A and Regulation S under the US Securities Act of 1933, the largest corporate bond issuance in Argentine history.
  • Represented YPF S.A. in connection with a US$500 million dual-tranche re-opening of notes issued under their Global Medium-Term Note Program.
  • Represented Southern Cross Latin America Private Equity Funds III and IV and certain of their affiliates in connection with their acquisition of the rights to shares of common stock of Ultrapetrol (Bahamas) Limited (NASDAQ: ULTR), an industrial transportation company, and related acquisition and sale transactions.
  • Represented SolarCity Corporation in connection with securitizations of cash flows from distributed solar generation systems.
  • Represented Isolux Infrastructure Netherlands B.V. in connection with the private activity bond financing related to the concession to design, build, finance, operate and maintain the I-69 Section 5 Project in Indiana.

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    Recognitions

    insights

    Involvement

    • Committee member of the New York City Bar Association’s Securities Regulation Committee

    Practice Areas

    Latin America

    Corporate

    Financial Services

    Securities and Capital Markets

    Energy and Infrastructure


    Languages

    Spanish

    English


    Admissions

    District of Columbia Bar

    New York Bar


    Education

    Georgetown University Law Center, J.D. 2013

    Duke University, A.B. 2007


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