JOB ADRIAN M. AMBROSIO

Job is part of the Banking, Finance and Capital Markets Practice Group of PJS. He advises investment banks that underwrite debt capital market issues. Among his recent transactions on debt capital markets include the maiden PhP2.0B Corporate Notes issuance by the Philippine Ports Authority and the P2.0B Retail Housing Bonds issued by the Home Development Mutual Fund. He also advises international banks and funds in the acquisition, sale and servicing of non-performing and other distressed assets. Job also served the Philippine Department of Finance as special counsel to the Corporate Affairs Group, International Finance Group and Privatization Office. He obtained his Juris Doctor (JD) degree from the Ateneo de Manila University in 1998 and his Bachelor of Arts (Economics) degree from the same university in 1994. He is admitted to the Philippine Bar and the California Bar.

Relevant Experiences

  • Currently acting as legal consultant working in association with KPMG Manabat Sanagustin & Co. for the Asian Development Bank’s (ADB) initiative for the development of the Philippine Infrastructure Financing Facility (PIFF) to address the gaps in the infrastructure financing requirements for the development of PPP Projects in the Philippines.
  • Currently acting as legal adviser to a project company that will own, operate and establish a bioethanol and cogeneration plant. Work includes negotiations with financial institutions for project financing, negotiations with equity investors.
  • Currently acting as advisor to a company that owns and operated an Engineered Sanitary Landfill. Work includes review of government service contracts.
  • In 2004, advised the Privatization Council and the Privatization Management Office (PMO) on the privatization of a portion of PNOC-EC's interest in Service Contract 38 for the Malampaya Camago oil and gas exploration including the review of the public bidding procedures and tender documents to ensure compliance with privatization laws.
  • Provided legal advice and reviewed relevant documents for the absorption by the National Government of NPC obligations of up to P200 Billion as mandated by Republic Act No. 9136.
  • Assisted the DOF, PSALM and NPC in negotiating the Deferred Payment Facility between NPC, PSALM, DOF and the members of SC 38 for the restructuring of payments for natural gas payments.
  • Acted as legal adviser (i) on the restructuring of P42 Billion worth of loan obligations of the National Home Mortgage Finance Corporation ("NHMFC"); (ii) for the Bids and Awards Committee for the disposition through a public bidding of approximately P13 Billion worth of NHMFC's non-performing residential mortgage loans, including the review of the bidding procedures and terms of reference, the and drafting of bidding/tender documents; (iii) for the regulatory framework for the joint venture of NHMFC and the winner bidder for NHMFC's non-performing loans, including liaising with the SEC, BSP, DOJ and Office of the President on the required approvals.
  • Acted as counsel for DOF in cooperation with the Office of the Government Corporate Counsel on the rehabilitation of Maynilad Water Services, Inc. ("Maynilad"). Work included (i) negotiation with the Project Sponsors (Benpres and Suez/Ondeo), international and local lenders of Maynilad and the rehabilitation receiver on key terms of the restructuring of Maynilad's debt obligations; (ii) review of the Concession Agreement and its amendments and assess the impact of the rehabilitation proceedings on such agreements; and (iii) drafting of various agreements related to the rehabilitation of Maynilad and the restructuring of its debt obligations.
  • Member of the Task Force creating a Debt and Risk Management Office under the DOF. Work included the assessment of the current legal, regulatory and procedural framework for National Government borrowings and guarantees.
  • Negotiated with international and local lenders and reviewed documents for loans obtained and bonds floated by Government Corporations and guaranteed by the National Government including:
    • -US$ 100 Million ROP Guaranteed NPC Medium to Long Term Buyer's Credit arranged by CALYON
    • -US$ 150 Million ROP Guaranteed MWSS Notes Due 2011 arranged by BNP Paribas
    • -Euro 25 Million ROP Guaranteed Loan from the European Investment Bank to DBP for on-lending to local borrowers for SME Projects
    • -US$ 25 Million ROP Guaranteed MWSS Floating Rate Notes due 2005 arranged by Barclays Bank Plc
    • -PHP 600 Million ROP Guaranteed NPC Syndicated Loan with DBP and Banco de Oro as lenders for the Leyte-Cebu Interconnect Uprating Project
    • -US$ 75 Million 5-year ROP Guaranteed Loan Facility for PNOC-EDC arranged by Standard Chartered Bank