Project Finance & PPPs
We have advised the proponent of the North Luzon Expressway (NLEX) Project on various project and financing matters, which also involved the drafting, review and negotiation of several contracts required for the project’s commercial operation, which it achieved in the first quarter of 2005.
We have advised Private Infra Dev Corporation (PIDC), the concessionaire for the Tarlac-Pangasinan La Union Expressway (TPLEX) Project, a major tollway project launched by the Philippine Government under the BOT Law, on matters relating to its project development, shareholder transactions and project financing. The project successfully achieved financial closing and initial funding in the second half of 2011 and was acclaimed as the Asia-Pacific Transport Deal of the Year for 2011 by Euromoney PLC’s Project Finance magazine. In 2015, we assisted the company in obtaining NEDA Board approval for the project’s expansion into four lanes and drafted the agreements and documents needed for its implementation.
We advised a bidding consortium for the Manila LRT1 Cavite Extension, Operation and Maintenance Project for the initial bidding in 2013 and its re-bidding in 2014, by assessing legal issues and risks associated with the project based on due diligence, drafting all correspondences with the Special Bids and Awards Committee, and reviewing qualification and bid documents of the client to ensure compliance with the bid rules. We also reviewed and commented on the drafts of the concession agreement and attended one-on-one meetings with representatives of the Philippine Government’s transaction advisor, Department of Transportation and Communications, Department of Finance, Light Rail Transit Authority and their local and foreign counsel.
In 2015, we provided legal support to the Philippine Government’s transaction advisor in connection with the completion of the legal and institutional analysis portion of the feasibility study for an airport project.
In 2014 to 2015, we advised a bidding consortium for the Bulacan Bulk Water Supply Project, by assessing legal issues and risks associated with the project, drafting all correspondences with the Special Bids and Awards Committee, and reviewing the qualification documents of the client to ensure compliance with the bid rules. We also reviewed and commented on the drafts of the concession agreement and attended meetings with representatives of the Philippine Government’s transaction advisor, MWSS and their legal counsel.
We have advised a client on various modes of undertaking local water projects, recommending the best option to do so, and had the opportunity to review various PPP codes of local government units in the country in completing our study.
In order to properly advise our clients, we keep ourselves abreast of the current international best practices on project finance and PPPs through regular trainings here and abroad.