Tiwi MakBan Geothermal financing and Light Rail Transit 1 project win IJGlobal Awards 2016 APAC Deals of the Year

March 28, 2017

SyCip Salazar Hernandez & Gatmaitan advised on two deals that were awarded “Deal of the Year” at IJ Global 2016 award ceremonies celebrating work across the Asia Pacific region. The Tiwi MakBan Geothermal financing won Asia Pacific Project Bond Deal of the Year, while the Light Rail Transit 1 project won Asia Pacific Rail Deal of the Year.

The Tiwi MakBan Geothermal financing involved the issuance by AP Renewables of a landmark climate bond. It is the first climate bond issued in the Asia-Pacific and the first ever climate bond for a single project in an emerging project. Read more information about this transaction.

SyCipLaw acted as borrower’s counsel for AP Renewables, Incorporated (APRI), a unit of Philippine energy company Aboitiz Power, in this transaction. The SyCipLaw team was composed of partners Marievic G. Ramos-Añonuevo and Melyjane G. Bertillo-Ancheta; senior associates Jan Celine C. Abaño-Ranada and Bhong Paulo A. Macasaet, and associate Aldous Benjamin C. Camiso, among others.

The Light Rail Transit 1 project involved the financing for the rehabilitation and extension of the PHP65 billion LRT1 Cavite Extension Project. As part of the project, the Light Rail Manila Corporation (LRMC), as concessionaire, will operate and maintain the existing LRT Line 1 and construct an 11.7-km. extension from the present end-point at Baclaran to the Niog area in Bacoor, Cavite, resulting in eight new stations. Read more information about this project.

SyCipLaw acted as counsel to LRMC in this project. The SyCipLaw team for this project was composed of partners Rocky Alejandro L. Reyes and Arlene M. Maneja; senior associate Ma. Christina C. Ortua; and associates Earla Kahlila Mikhaila C. Langit, Mark Xavier D. Oyales and Jaime Liz F. Yu.

The IJ Global awards recognize the best energy, infrastructure and mining deals from around the world over the past year. The Asia Pacific awards ceremony was held on March 9, 2017 in Singapore. SyCipLaw partner Arlene M. Maneja represented the firm at the award ceremony. Visit the IJ Global website for the full list of winners.