Trending Topics
Introduction
Sebastian Torres represents issuers, underwriters, and borrowers on a variety of public and project finance transactions. He previously worked as a senior legal advisor to the Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF) and represented the Government of Puerto Rico and its instrumentalities on matters related to the Puerto Rico Oversight, Management, and Economic Stability Act, including municipal debt restructuring and public finance affairs. Sebastian also served as general counsel to the Puerto Rico Sales Tax Financing Corporation during the issuance of its restructured sales tax bonds in 2019.
My focus
Infrastructure projects are the building blocks of economic growth. Every economy needs reliable infrastructure to, among other things, enable trade, power businesses, create new opportunities, and improve the livelihood of its communities. This is why I focus my practice on providing legal advice to state and local governments, nonprofit organizations, investment banks, and financial institutions in connection with the financing of infrastructure projects that have a positive impact.
My experience working with the issuance and restructuring of distressed municipal securities has provided me an in-depth experience and capability for providing legal solutions for our clients as bond counsel, disclosure counsel, and underwriter’s counsel. This entails thinking innovatively about financing and refinancing structures so that our clients meet their capital needs and feel confident in the face of any future challenges or opportunities that might arise.
Looking ahead
Sustainable or environmental, social, and governance (ESG) investing, has steadily gained traction in the U.S. municipal market. Increasingly issued by state and local governments to fund public projects that can have a positive social or environmental impact, municipal bonds can clearly align with sustainability goals. As a bigger appetite for building a more sustainable bond portfolio develops, federal regulators and self-regulatory organizations are looking for ways to understand how ESG practices are being integrated into the municipal securities market, as well as how to engage in information-gathering and rulemaking to protect investors, issuers, and the public interest. Earlier this year, the Securities and Exchange Commission’s Office of Municipal Securities signaled that it’s taking a closer look at issuer disclosure under Rule 15c2-12, which could grow to include elements of ESG disclosure.
Insights
- “The Role of Issuer's Counsel: Before, During and After the Bond Issuance,” The Workshop 2024—National Association of Bond Lawyers (NABL), Chicago, IL, September 19, 2024
In the news
- The Bond Buyer
Nixon Peabody elevates public finance attorneys
April 18, 2024This article features the recent promotions of Chicago partner Gretchen Sherwood, San Francisco counsel Dia Walrath, and New York City counsel Sebastian Torres, all of the Project Finance & Public Finance practice. Gretchen, Dia, and Sebastian are quoted in the coverage discussing the focus of their practices. The article also quotes Managing Partner and CEO Steve Zubiago and Providence partner and Chief Talent Officer Stacie Collier on how the new partner and counsel classes exemplify NP’s purpose and how these attorneys have blazed their own trails within the firm.
- The Bond Buyer
New York City Water back in market with $450 million deal
April 15, 2024This article covers the New York City Municipal Water Finance Authority’s second bond issuance this year—$450 million of fixed-rate second resolution bonds—and mentions NP for serving as bond counsel. The NP team includes New York City Project Finance & Public Finance practice group leader Virginia Wong; Washington, DC PBFN partner Carla Young; and senior counsel Ken Lind, counsel Sebastian Torres and Abbie Olsen, and associate Greg Hom, all of the PBFN practice and New York City office.
- Press Release
Leadership Council on Legal Diversity selects three Nixon Peabody attorneys for 2023 programs
Feb 9, 2023In this press release, Nixon Peabody LLP is pleased to announce that three attorneys have been selected to participate in Leadership Council on Legal Diversity (LCLD) programs for 2023.
- El Nuevo Dia
The Highways and Transportation Authority’s adjustment plan goes into effect
Dec 7, 2022This article, which covers a debt restructuring of the Puerto Rico Highways and Transportation Authority outstanding indebtedness, mentions NP as legal advisors on the new indebtedness. The NP team includes Project Finance & Public Finance practice group leader Virginia Wong from New York, Washington, DC partners Mitch Rapaport and Carla Young, Los Angeles partner Angelica Valencia, New York associate Sebastian Torres-Rodriguez, and New York senior paralegals Carolyn Yi-Medina and Patrick McGovern, all of the Project Finance & Public Finance group.
- The Bond Buyer
Puerto Rico's restructured bonds will be exempt, and provide fresh high-yield liquidity
This article on Puerto Rico’s restructured general obligation bonds mentions NP for the firm’s determination that the bonds will be tax-exempt. The NP team is comprised of New York City partners Virginia Wong, Ken Lind, and Liz Columbo, and associate Sebastian Torres; Washington, DC partners Mitch Rapaport and Carla Young; and Los Angeles partner Angelica Valencia, all of the Project Finance & Public Finance group.March 3, 2022 - The Bond Buyer
Santee Cooper approves $1.3 billion tender, exchange bond refunding
This article on Santee Cooper’s board approving a $1.3 billion tender and exchange bond refunding mentions the firm for serving as disclosure counsel. The NP team representing the South Carolina-owned utility company includes partners Liz Columbo, Virginia Wong, and Barry Rothchild of New York, Mitch Rapaport of Washington, DC, and New York counsel Abigail Olsen and associate Sebastian Torres-Rodriguez, all of the Project Finance & Public Finance group. Washington, DC Corporate partner Lloyd Spencer and Los Angeles Project Finance & Public Finance partner Dan Deaton assisted with the analysis of securities laws related to the tender and exchange.Feb 9, 2022
Admitted to practice
New York
Bar of the Commonwealth of Puerto Rico
Education
University of Puerto Rico, Rio Piedras, B.A.
University of Puerto Rico School of Law, J.D.
Professional activities
- Young Professionals in Infrastructure, board member
Recognition
- Selected, through a peer-review survey, for inclusion in Best Lawyers: Ones to Watch 2025 in the field of Municipal Law; listed in Best Lawyers: Ones to Watch since 2024
Languages
Spanish
Insights And Happenings
View AllProfessionals in the Practice Area
View AllVirginia Wong
Partner / Practice Group Leader, Project Finance and Public Finance- New York
- Office:+1 212.940.3028
- vwong@nixonpeabody.com
-
Julie K. Seymour
Partner / Strategic Impact Partner- Chicago
- Office:+1 312.977.4353
- jkseymour@nixonpeabody.com
-
Scott R. Singer
Partner- New York
- Office:+1 212.940.3182Mobile:+1 917.886.5967
- ssinger@nixonpeabody.com
-
