Project Shogun involved the refinancing of the US dollar term loan previously incurred by an integrated resort and casino operator from a local universal bank, and the subsequent refinancing of such US dollar loan via redenomination through a Peso loan. The two loan facilities and the security package for both of them required sophisticated structuring and complex documentation as they involve a real estate mortgage over parcels of land and other immovable assets and security interest over different types of lease receivables, shares in two different related entities, bank accounts, movables assets, insurance contracts and certain leasehold rights of the borrower.
The Firm acted as counsel for the lender, the security trustee and the sole arranger, Milbank LLP acted as counsel for the foreign security grantor while Meer Law acted as local counsel for the borrower.
Other projects of the Firm were also finalists in the categories of Project Finance Deal of the Year and M&A Deal of the Year. The Firm was likewise a finalist for the Philippine Deal Firm of the Year category.
