David H. Spencer

Partner

• dspencer@steptoe.com
• vCard
• New York Office

David H. Spencer is a partner in the New York office of Steptoe & Johnson LLP, where he is a member of the Corporate, Securities, & Finance practice group. He focuses on cross-border, secured, structured, speculative-grade, emerging-markets, and distressed credits, particularly in capital-intensive sectors.

Mr. Spencer represents sponsors, issuers, borrowers, underwriters, banks, debt funds, debtors, and creditors in all credit markets:

• capital markets: SEC-registered, 144A, private placements, CP, and MTNs
• syndicated finance: banks, multilaterals, bilaterals, and funds
• equipment finance: leasing, lending, and vendor finance
• distressed: DIP, loan-to-own, junior secured, bankruptcy exit, restructuring

Mr. Spencer completed the first capital markets financings for Latin American projects, the first project financings for US independent power projects and the first leveraged ownership FSC leases. His financings have received many "deal of the year" awards from major publications.

Mr. Spencer’s successful assignments include developing and financing:

• chemical facilities in Brazil, Mexico, Canada, and the United States;
• oil and gas (onshore and offshore) in Brazil, Argentina, Canada, and the United States;
• mines and metals processing facilities in Australia and North and South America;
• refineries in Indonesia, Chile, and the United States;
• pipelines in Argentina and the United States;
• telecommunications in India, Taiwan, Lebanon, and the United States;
• roads and railroads in Panama, Colombia, and the United States;
• seaport in Panama;
• power projects in Chile, Peru, Mexico, Hungary, and the United States;
• manufacturing facilities in Poland, Canada, and the United States.

Mr. Spencer also represents sponsors and project companies on development of capital-intensive businesses and projects, including: engineering, design, construction, and procurement; commercial contracts; technology procurement and licensing; privatization; strategic investment, joint ventures, and acquisitions; private equity finance; and initial public offerings.

Representative Matters

• Representing sponsor and project company on development and capital markets financing for combined-cycle gas-fired power project in Peru.
• Representing sponsor and project company on development and capital markets financing for peat-fired power project in Panama.
• Represented sponsor and project company on IFC equity and debt financing for agriculturally derived greenhouse gas emission reduction projects in Brazil and Mexico.
• Represented borrower on syndicated financing of telecommunications system in Central Europe.
• Represented agent/arranger and syndicate on syndicated financings of private-sector seaport in Panama.
• Represented issuer and underwriter on 144A/Regulation S capital markets financing for private-sector toll road in Panama.
• Represented principal bank on restructuring over USD 3 billion of existing facilities and new syndicated term, revolving and letter-of-credit facilities for major pipeline and trading company.
• Represented issuer on secured 144A/registered exchange offer financing for rental equipment pool.
• Represented developer of mobile telephone system in Taiwan.

Select News & Events

• David H. Spencer Joins Steptoe's New York Office

Publications

• Who Precedes and Who Succeeds: Proposed Section 355(e)(4)(d) Regulations (article)
  September 25, 2008