David H. Spencer Joins Steptoe's New York Office

For more information, contact Jamie Moss, newsPRos, 201-493-1027

(August 13, 2007, New York City) -- Steptoe & Johnson LLP, a leading international law firm, has added David H. Spencer to its partnership in the firm’s New York office, effective immediately. He will be a member of the firm’s Corporate, Securities, and Finance Practice Group in its Business Solutions Department.

“David brings an exceptional New York City-based international project finance practice to the firm that fits very well with our international law expertise and client base,” said Roger Warin, Chairman of Steptoe & Johnson. “The frequent selection of his projects as ‘deals of the year’ by numerous publications is well-deserved. We are very excited that a deal-maker of this high caliber has joined our growing client service team in New York.”

A 1980 graduate of Georgetown University Law Center, Mr. Spencer focuses his practice on secured, structured, and emerging-market financing, and on development of capital-intensive projects. His expertise and experience includes capital markets and syndicated financings. He has worked in a broad range of capital intensive sectors, including roads, railroads, seaports, electric energy, oil and gas, pipelines, chemicals, mining and seaports, and metals processing.

“Steptoe has a depth of expertise that is exceptionally well aligned with my practice. The firm provides an outstanding international platform that will allow me to expand my practice and serve the firm’s existing clients,” said Mr. Spencer. “I expect to contribute to Steptoe’s ongoing expansion in New York City and to further develop the firm’s international project and finance practice in established and emerging markets around the globe.”

Mr. Spencer represents sponsors, issuers, borrowers, underwriters, banks, debt funds, debtors and creditors in all credit markets, including US, European and Asian capital markets; syndicated financings with banks, multilaterals, bilaterals and funds; equipment finance and distressed finance and restructuring.

He has a well-established record of innovative and difficult transactions. In Latin America, he represented issuers on the first capital markets project financing. He represented financiers on the first project financing for US independent power projects. He represented lenders on the first leveraged ownership of FSC leases.  His experience includes developing and financing chemical facilities in Brazil, Mexico, Canada and the US; onshore and offshore oil and gas in Brazil, Argentina, Canada and the US; mines in Australia and North and South America; refineries in Indonesia, Chile and the US; pipelines in Argentina and the US; telecommunications in India, Taiwan, Lebanon and the US; roads and railroads in Panama, Colombia and the US; a seaport in Panama; power projects in Chile, Peru, Mexico, Hungary and the US; and manufacturing facilities in Poland, Canada and the US.

“David will play a key role in the continued growth of our project finance practice,” said Scott H. Katzman, global chair of Steptoe’s Corporate, Securities and Finance Practice Group. “He has a wealth of experience, not only in the legal aspects of emerging worldwide markets and credit structures, but also in terms of understanding the varied business environments and often complex economic contexts in which today’s global business is being conducted. He is a wonderful asset for both the firm and this practice.”

Mr. Spencer will contribute significantly to the expansion of Steptoe’s cross-border finance practice, including increasing the firm’s support for Latin American and other emerging-markets companies seeking financing in the major credit markets. “I also look forward to expanding Steptoe’s debt markets practice for high-yield credits,” he said.

Author of a chapter on "Long Term Power Purchases," in The Privatization of Public Utilities, Mr. Spencer has lectured on “Privatization and Finance” for the USAID/Russian government program for energy officials in Russia; and on the same topic at the Government Staff College of India.

Mr. Spencer joined Steptoe from the New York office of Baker & McKenzie LLP, where he was a partner in the international project finance practice.