Stage 1 — Complete
Deal Structuring & Market Sounding
Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
airport deal
Operator // San Miguel Aerocity Inc.
San Miguel Corporation (SMC) submitted an unsolicited proposal to the Philippine gov’t, under a Swiss Challenge format, to develop and operate the greenfield Manila-Bulacan Airport, securing “original proponent” status. Under the USD14.5b SMC plan, the 11,500 hectare site will initially include a 20m passenger terminal and two runways, with construction slated to commence by the end of 2019 and conclude in 2026. Ultimate build-out could see up to six parallel runways and a terminal complex with a capacity of 100-200m passengers/year. The SMC plan also includes a 2,500-hectare city complex and mass transit connectivity. SMC aims to structure the project with 30% equity and 70% debt and is reportedly in active discussions with American and Chinese lenders. SMC has engaged ADPI, Meinhardt and Jacobs as the core design-build team for the project, with Standard Chartered Bank and Sumitomo Mitsui Banking Corporation serving as financial advisors. Under the profit-sharing agreement, SMC will share half the profits to the gov’t above a 12% profit margin, and all profits above 14%. SMC will be exempt from all taxes during the 10-year construction of the airport and its surrounding developments, including income, value-added, percentage, excise, documentary stamp taxes, customs duties and tariffs, taxes on real estate, buildings and personal property, business and franchise and supervision fees. In late Sep. 2020 the Philippine Institute of Volcanology and Seismology (Phivolcs) raised flooding and other geohazard concerns for the Bulacan site, given its proposed location which is is composed of soft soils and prone to frequent flooding. SMC countered, stating detailed engineering design is underway to ensure geohazards are addressed.
Passengers
Movements
Cargo (tonnes)
Click an airport location for details
Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.
Investor/operator evaluation for the deal/opportunity and/or business case and financial model development to support commercial bid/offer.
Award of deal by government/grantor, or acceptance of offer from private owner of shares, followed by completion of financing conditions and, ultimately, granting of concession and/or transfer of shares.
Subscriber-only content. You must be signed in and have a subscription plan to view this information.
Subscribers receive access to value-added content including the latest Deal Pipeline intel, in-depth feature articles and analysis, operator/investor profiles, industry insights, reports and much more.
There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn't anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators on the Internet tend to repeat predefined chunks as necessary, making this the first true generator on the Internet.
There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn't anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators on the Internet tend to repeat predefined chunks as necessary, making this the first true generator on the Internet. It uses a dictionary of over 200 Latin words, combined with a handful of model sentence structures, to generate Lorem Ipsum which looks reasonable. The generated Lorem Ipsum is therefore always free from repetition, injected humour, or non-characteristic words etc.
There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn't anything embarrassing hidden in the middle of text.