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Debt Underwriting, Project Finance, Loan Sourcing and Arrangements
ICCP is active in assisting large and medium-scale enterprises in obtaining debt funds from local and foreign financial institutions, as well as from the capital market.
ICCP does not itself lend money. Thus, it is able to seek the best possible loan terms for its clients from varied industries for a myriad of uses, including project financing, expansion, refinancing, permanent working capital, and general purpose requirements. ICCP's intimate knowledge of currently available terms and practices in the industry has benefited its clients through competitive pricing, superior tenor and conditions and practicable documentation.
Project Finance
Some examples of ICCP's project finance deals are as follows: 1) P170 million Long Term Loan for Science Park of the Philippines, Inc., raised at a time when private industrial estate development was still a pioneering business in the Philippines; 2) P500 million Dual Tranche Long Term Loans for Republic Asahi Glass Corporation; and 3) a P220 million Long Term Loan for the Manila Exposition Complex, Inc. to finance the construction of the first world-class exhibition facility in the country.
Loan Sourcing & Arrangement
ICCP's more notable engagements in this area include: 1) a P250 million long term loan for Clark Development Corporation (CDC), whcich was completed in less than 20 working days in order to meet CDC's commitment to United Parcel Service; 2) a P50 million Long Term Loan for San Miguel Corporation, sourced at a time when its bank borrowings were limited by statutory credit limits; 3) a P135 million Syndicated Long Term Loan for Asian Terminals, Inc. to finance its leverage buy-out (this facility was raised in a record time of 30 days); and 4) a P500 million Long Term Loan, with a tenor way beyond the maximum granted by local banks, for Pueblo de Oro Development Corporation.
Debt Underwriting
ICCP was behind the P1.7 billion Long Term Commercial Paper (LTCP) floatation of National Steel Corporation, a loan that was underwritten in the midst of uncertainty related to the privatization of this erstwhile government-owned and-controlled corporation. Another notable debt underwriting deal of ICCP was the P500 million LTCP of Filinvest Development Corporation, which served as the prelude to the initial public offering of the common shares of the Gotianun group.
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