Philippines: LRMC’s Php24-B Financing for LRT1 Cavite Extension wins 2016 Best Project Finance Deal in SE Asia
Light Rail Manila Corporation’s (LRMC) PHP 24 billion project financing was recognized as the Best Project Finance Deal of 2016 in Southeast Asia at the 10th Annual Alpha Southeast Asia Best Deal and Solution Awards. The 15-year loan facility will finance the operations and maintenance of the existing Light Rail Transit Line 1 (LRT1) system and the construction of an 11.7-km extension from the present end-point at Baclaran to the Niog area in Bacoor, Cavite, which will result in a total of eight new stations. SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) acted as counsel to LRMC. Read more information on this transaction at www.syciplaw.com/news/articles/fa/158.
LRMC is the joint venture of Metro Pacific Investments Corporation's Metro Pacific Light Rail Corp. and Ayala’s AC Infrastructure Holdings Corp. (AC Infra) and the Philippine Investment Alliance for Infrastructure's Macquarie Infrastructure Holdings (Philippines) PTE Ltd.
Alpha Southeast Asia is an institutional investment and transactional banking magazine that is purely focused on Southeast Asia. The awards ceremony was held on January 25 at the Le Meridien Putrajaya in Malaysia. Visit the Alpha Southeast Asia website (http://alphasoutheastasia.com/) for more information, including the full list of winners.