Rick Martinez

Practices

Education and Clerkships

J.D., Columbia Law School, 1998, Harlan Fiske Stone Scholar; Parker School Certificate for Achievement in International and Comparative Law

A.B., Harvard University, 1994, magna cum laude; Certificate of Degree in Latin American and Iberian Studies

Admissions

New York

Languages

Spanish

Portuguese

Profile

Based in New York, Ricardo Martinez is a co-leader of the firm’s Trade and Export Finance practice and an active member of the Project Finance and Development team. Clients consistently seek Rick’s guidance on cutting-edge matters and engage him in one-of-a kind assignments.

Rick focuses on representing lenders and borrowers in complex, cross-border finance transactions across a broad spectrum of contexts, including project finance, acquisition finance, general working capital facilities as well as trade finance by means of letters of credit, pre-export credit facilities and the purchase and sale of trade receivables. Most of these transactions have involved leveraged borrowers and thus have benefited from some form of credit support, whether in the form of a guarantee, letter of credit, a security interest in pledged property or additional sponsor or parent company support.

Rick has significant experience advising on doing business in emerging markets. He has closed transactions involving every major Asian and Latin American country, as well as several African jurisdictions, over the course of his 18-year career. He was most recently ranked as a Foreign Expert for Projects by 2012 Chambers & Partners USA, noting his substantial experience handling major energy and infrastructure projects in Latin America. Rick was also named one of New York’s Rising Stars for Projects by 2012 Super Lawyers and was recognized in the 2016 edition of Latin Lawyer 250, Law Business Research Ltd. Commencing on September 1, 2017, will assume the position of Chair of the Project Finance Committee of the Association of the Bar of the City of New York.

Rick commenced his career at Simpson Thacher & Bartlett, where he handled capital market transactions and acquisition financings for multinational corporations and financial institutions active in Latin America. Furthermore, Rick is a former Senior Vice President and Associate General Counsel of Citibank, N.A., where he was one of two in-house attorneys responsible for the bank’s trade finance products in North and South America. Finally, in 1992, Rick served as a speech writer and translator for Costa Rican President and Nobel Peace Prize Recipient Oscar Arias.

Professional Recognition

  • Latin Lawyer 250, Law Business Research Ltd., 2016
  • Chambers USA, Chambers & Partners, Foreign Expert for Projects, 2012
  • Super Lawyers New York’s Rising Stars, Thomson Reuters, for Projects, 2012

Newsletter

ACCRUED INTEREST  A Finance Newsletter from Haynes and Boone, LLP

Accrued Interest: A Finance Newsletter from Haynes and Boone

Haynes and Boone has Finance professionals resident in offices across the globe. This edition of Accrued Interest focuses on some of our newest partners and counsel who are resident outside of our Dallas and New York offices. Their talents have further broadened both the depth of experience and geographic scope evident in our Finance practice.

Selected Client Representations

Project and Structured Finance

  • Represented Bank of America as lender in connection with several LNG liquefaction facility financings related to projects in Texas and Louisiana and amounting to more than $1 billion.
  • Represented the Brazilian subsidiary of a leading Italian renewable energy company in connection with a $150 million term loan facility, guaranteed by its parent company, and extended by the New York Branch of a major Japanese commercial bank.
  • Represented ING Capital LLC in connection with its $24 million standby letter of credit supporting certain sponsor support obligations and equity contributions in connection with the I-69 Section 5 PPP project in Indiana.
  • Represented Termovalle Investment Co. LLC and its Colombian affiliate, Termovalle S.C.A. E.S.P., in connection with a US$70 million term loan extended by lenders Banco Itaù BBA S.A. and Banco Davivienda S.A. Termovalle owns and operates a 200-MW electricity generating facility in Palmira, Colombia. The ten-year term loan facility agreement allowed Termovalle to refinance existing debt.
  • Represented Tubacero, S.A., one of Mexico’s largest pipeline manufacturers, in connection with its $100 million offtake agreement related to Mexico’s Tarahumara Pipeline Project as well as with the development of its standard form of pipe supply agreement.
  • Represented Bolognesi Participacoes S.A. in connection with a $250 million note purchase agreement with EIG Management Company, LLC financing the construction of six distinct oil-fueled power generation plants located throughout Bahia, Brazil.
  • Represented Shasta Renewable Resources, LLC in connection with certain tax and debt restructuring matters. Shasta Renewable Resources operates a waste to energy power plant located in Northern California.
  • Represented Wells Fargo, N.A. in connection with a $40 million revolving line of credit to U.S. and Colombian co-borrowers secured by certain airport concession rights related to Bogota’s El Dorado International Airport.
  • Represented U.S. Overseas Private Investment Corporation in its $200 million term loan to Seker Mortgage A.S., a Turkish mortgage originator. Such term loan supported the origination of mortgages in Istanbul and was collateralized with the receivables from such mortgages.
  • Represented the Inter-American Development Bank, European Investment Bank, Proparco and Corporación Andina de Fomento in connection with a $155 million project financing of a toll road project in the Dominican Republic.
  • Represented the U.S. Overseas Private Investment Corporation in its $30 million term loan to Verida Credit I.F.N. S.A., a Romanian mortgage originator. Such term loan supported the origination of mortgages in Bucharest and was collateralized with the receivables from such mortgages.
  • Represented Banco Bilbao Vizcaya Argentaria, S.A. (New York Branch) in its negotiation of certain amendments and transaction restructuring in connection with its $158 million project financing of Panda Hereford Ethanol L.P.’s bio-mass fueled ethanol production facility located in Hereford, Texas.
  • Represented ATE III Transmissora de Energia S.A. as borrower in its $401 million project financing of an electricity transmission line extending approximately 450 kilometers across various states of Brazil. The lenders included the Inter-American Development Bank, ABN AMRO Bank N.V., Natixis (New York Branch) and Banco Espirito Santo de Investimento S.A.
  • Represented Legatum Aviation LLC in its negotiation of multiple aircraft refurbishment, maintenance and supply agreements in connection with its fleet of jet and rotary engine aircraft.
  • Represented Doric Asset Finance Corp. in $40 million financing and leasing of two Airbus A319 Aircraft with Virgin America, Inc. as lessee.
  • Represented the U.S. Export-Import Bank, Export Development Canada, the U.S. Overseas Private Investment Corporation and the Inter-American Development Bank as lenders and guarantors in the $591 million construction and project financing of a new international airport in Quito, Ecuador. (Awarded “Latin American Airport Finance Deal of the Year” in 2006 by Airfinance Journal, Euromoney Institutional Investor PLC.)

Trade Finance

  • Represented a major French financial institution in connection with its €90 million global account receivable purchase program in favor of one of the world’s leading crop solutions developers with expertise in biologics, fertilizers and soils. 
  • Represented U.S. Overseas Private Investment Corporation (OPIC) in its $10 million financing of the One Acre Fund, a not-for-profit entity dedicated to providing microfinance loans to African subsistence farmers for the purchase of seed, fertilizer and other agricultural inputs.
  • Represented a major U.S. commercial bank in connection with a $75 million account receivable purchase agreement in favor of one of the world’s leading agrochemical and agricultural biotechnology companies.
  • Represented one of the largest state-owned commercial banks in China in connection with a $1 billion pre-export financing facility in favor of a Brazilian conglomerate (one of the largest animal protein producer and meat processing companies in the world).
  • Represented Bank of China’s New York Branch in connection with a $300 million pre-export advance facility agreement in favor of a major Brazilian multinational corporation.
  • Represented U.S. Bank National Association in connection with its $60 million supply chain finance program in favor of a leading global spice and seasonings packaged goods company.
  • Represented a European fund in connection with the development of its pre-export finance product in Latin America, including the evaluation of certain regulatory and compliance issues and franchise risks associated with such product.
  • Represented Compagnie Générale d'Affacturage, a subsidiary of Société Générale, in connection with its purchase of up to $1 billion in trade receivables from various U.S. subsidiaries of a major French automotive parts manufacturer.
  • Represented U.S. Overseas Private Investment Corporation (OPIC) in its $50 million seven-year secured term loan facility to a Cayman Islands based fund that provides trade financing for small and medium-sized commodity exporters in Latin America. Negotiated Intercreditor Agreement involving Inter-American Development Bank, OPEC Fund for International Development and BAWAG Bank on behalf of OPIC. (Awarded “Trade Finance Deal of the Year” by Trade Finance Magazine.)
  • Represented Flexi-Van Leasing, Inc. in connection with a syndicated and secured $275 million five-year borrowing base facility consisting of revolving loans and letters of credit led by Bank of America, N.A., as administrative agent, and involving a syndicate of eight international banks.
  • Represented U.S. Bank National Association in connection with its supply chain finance program in favor of JBS, a leading animal protein producer and exporter.
  • Represented Standard Chartered Bank in connection with its $500 million offshore trade related, guaranteed loan facility in favor of Petrobras, S.A.
  • Represented Wells Fargo N.A. in connection with its development of a global draft discounting program across 12 distinct jurisdictions to be used in connection with financing for suppliers to a major international clothing manufacturer and retailer.
  • Represented Standard Chartered Bank in its $50 million advance facility agreement in favor of Suzano Papel E Celulose S.A., a leading Brazilian paper company, and in support of its exports to Asia.
  • Represented Deutsche Bank AG (New York) in its $75 million borrowing base, secured loan to United Coal Company, an American coal mining concern. The loan was guaranteed by 13 United Coal Company subsidiaries as well as its Ukrainian parent company.
  • Represented Citibank, N.A. in its issuance of an $80 million cash collateralized protective standby letter of credit for the account of a multinational media company and in favor of a Brazilian bank.

Leveraged Finance

  • Represented the New York branch of a large Japanese bank in connection with a $150 million Amended and Restated Senior Secured Revolving Credit Facility in favor of a leading steel processing company.
  • Represented Bank of China New York Branch with respect to a loan of $98 million extended to China-based Goodbaby International to fund its acquisition of WP Evenflo, an American baby products manufacturer.
  • Represented H.S.B.C Bank U.S.A. N.A. in connection with a series of secured loans involving embedded derivatives and totaling approximately $1 billion to Latin American financial institutions.
  • Represented Flexi-Van Leasing, Inc. in connection with its offering of $250 million in unregistered notes pursuant to a private placement under Regulation S and Rule 144A.
  • Represented the Inter-American Development Bank in its $125 million term loan to Loma Negra, S.A., an Argentine cement company, as guaranteed by its Brazilian parent corporation Camargo Correa Cimentos S.A.
  • Represented a large global bank as Lender in a $1.2 billion term loan and $300 million term loan to a major international retailer, as borrower and related to the acquisition of a large Chilean supermarket chain. In each case, the lender benefited from a corresponding, secured deposit and forward sale agreement providing the right to ‘put’ such loan to an affiliate of the borrower in the event of any default by the borrower.
  • Represented Banco Bilbao Vizcaya Argentaria, S.A. (Grand Cayman Branch) in the financing, and subsequent refinancing, of a $362 million term loan to Compañia General de Electricidad S.A. (CGE) for its acquisition of equity shares in Empresas EMEL S.A. The loan, which was documented under New York law but benefited from a corresponding Chilean law pagaré, was first extended directly to CGE in October of 2007 but then, in September of 2008, was partially paid down by CGE with the remaining principal assumed by three CGE affiliates.
  • Represented Banco Bilbao Vizcaya Argentaria, S.A. (Grand Cayman Branch) in a $500 million guaranteed term loan to Cemex S.A.B. de C.V. The term loan, which benefited from a guaranty made by Cemex México, S.A. de C.V., partially refinanced an existing bridge facility of $1.2 billion dated as of October 24, 2006. The loan was documented as a New York Law bilateral credit agreement with a corresponding Mexican law pagaré.
  • Represented Banco Bilbao Vizcaya Argentaria, S.A. (Grand Cayman Branch) in a ¥41.9 billion guaranteed term loan to Pemex Project Funding Master Trust to finance various Pidiregas projects in Mexico. The Yen denominated loan to Pemex Project Funding Master Trust, a Delaware statutory trust, benefited from a guaranty rendered by Petróleos Mexicanos and various of its subsidiaries. The loan was documented as a New York Law bilateral credit agreement with a corresponding Mexican law pagaré.
  • Represented Citibank N.A., London Branch, as facility agent in a $950 million syndicated secured term loan to Yildiz Holding A.S. and other affiliated borrowers for the acquisition of the worldwide Godiva Chocolates business from Campbell Soup Co.
  • Represented Barclays Bank plc in a $30 million secured, multi-currency, revolving amended and restated credit agreement to a major international law firm.
  • Represented U.S. Overseas Private Investment Corporation in its $10 million investment guarantee facility to Calvert Social Foundation, a 501(c)(3) exempt organization and affiliate of an investment company pursuant to the U.S. Investment Company Act of 1940.
  • Represented General Electric Capital Corporation as senior lender in €40 million asset-based senior term loan facility to Global3 Combi, S.L., a Spanish energy developer.

Recognition

Latin Lawyer 250 2016

Haynes and Boone Maintains Strong Presence in Latin Lawyer 250 International Directory

Haynes and Boone, LLP lawyers are once again recognized in the Latin Lawyer 250 for their international and Mexico-based legal work, singling out 17 practitioners and eight practice groups for inclusion in the highly-regarded listing of recommended law firms.

Professional and Community Activities

  • Incoming Chair of the Project Finance Committee of the Association of the Bar of the City of New York
  • Member of Letter of Credit Subcommittee, American Bar Association Business Law Section’s UCC Committee
  • Association of the Bar of the City of New York, Project Finance Committee Member
  • Board Member, The Resource Foundation
  • Host Committee Member, The Resolution Project
  • Admissions Office Interviewer, Harvard College
  • Troop Leader, Boy Scouts of America

Selected Publications and Speeches

  • "The Cuban Market and the Story of American Airlines," panelist, Symposium on International Law and Global Markets: Compliance, Cyber-Security, Competition Law and the Impact of the Trump Administration, June 12, 2017.
  • “Loan Covenants in Energy Company Credit Agreements,” presenter, 89th Annual IECA Fall Conference, Orlando, FL, October 2013
  • The Annual Survey of Letter of Credit Law and Practice, sponsored by the Institute of International Banking Law and Practice, panelist, New York, NY, 2011-2015
  • “What role will ECAs play in financing trade with Latin America as bank liquidity tightens?” moderator, Euromoney & Trade Finance’s 14th Annual Structured Trade and Export Finance in the Americas Conference, March 2012.
  • “Trade Finance Update: A Discussion of Recent Developments,” January 31, 2012.
  • “The UCC and other Structure and Security Issues in a US Context” as part of a series of lectures to clients concerning the principles of Trade Finance, 2011.
  • Training session at Banco Bilbao Vizcaya Argentaria S.A. for its legal and business officers concerning principal legal issues arising in the negotiation of project finance credit agreements, New York, April 2010.
  • “An Introduction to Letter of Credit Law and Practice”, "Supply Chain Finance - A High Level Introduction," and "Receivables Purchase Agreements - High Level Overview and Primer," New York Continuing Legal Education seminars delivered at various locations 2008-2015.

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