Financing

Our experience in financing work cuts across not only in terms of structures – from bilaterals to syndicated and club-type financings – but also in industries.

SyCipLaw was involved in many of the major financing transactions in the country. We acted as counsel for the project sponsors in the financing of the 1,200 mw Sual coal-fired thermal power plant which had a total project cost of US$1,354 billion (of which US$1,014.2 billion came from credit facilities), the largest private financing in the Philippines to date. We acted as counsel to the lenders that provided a PhP20 billion financing to the National Grid Corporation of the Philippines, which was awarded the concession to expand, operate, maintain and rehabilitate the national transmission grid and sub-transmission assets previously operated by National Transmission Corporation.

We acted as counsel for the lenders in the financing of the Manila North Tollway project, the first limited-recourse toll road project in Asia since the Asian financial crisis. Financing was provided without government support, with 100% of the market risk assumed by a syndicate of lenders led by the ADB. The Manila North Tollway Project was awarded IFLR International Transport Deal of the Year and the Asian Legal Deal of the Year in Project Finance in 2001. We also recently advised on the financing of the MRT-7 light rail transit project, the land development works of the New Manila International Airport, and the sale and leaseback of the largest portfolio of telecommunications towers in the Philippine market.

Range of financing services:

• Project and Asset Finance
• Structured Finance