Banking, Finance and Securities
Our Banking, Finance and Securities group has been consistently recognized by the financial and business community as the Philippine leader in this practice. It is a mainstay in country surveys as a top choice for local counsel.
We represent and advise most of the major banks, and in all types of financing transactions and regulatory matters. We have established solid partnerships with them – assisting foreign institutions in establishing local branches, conducting regular legal audits of bank forms and systems, and providing advice on day-to-day operations as well as significant deals.
Our advice and assistance are especially valued for complex or novel transactions. During the 1980s, when the Philippine Republic was compelled to impose a moratorium on the servicing of sovereign debt, our firm was chosen to advise the committee representing all the country’s commercial bank creditors in the rescheduling of the Philippine external debt. We have advised participants in the financing of almost all of the Philippine independent power projects that have come on line since the 1990s. Our firm has acted as counsel on several major, privately financed infrastructure projects, many of which are the first of their kind, including the Skyway elevated road system, the Manila North Tollway, and the LRT 3 light rail mass transit system. We structured the first local financing transaction sought to be principally secured with a space satellite.
In securities practice, we established the legal footprint for many financial products and offerings. We regularly provide the Philippine legal opinion on the use of derivatives and the validity of transaction forms prescribed by international trade associations such as International Swap Dealers Association, which organization we advise. We have counseled issuers, underwriters and other participants in various public offerings, and have acted as advisers in many of the largest issues the local capital market has seen. We have significant experience in international issues of debt and other types of securities.
Our firm leads in the area of securitization. Our practice group not only has a wealth of experience in this area, but its members have actively advised on the drafting of government rules on asset-backed securities and the Philippine Securitization Law.