Active since 1945, SyCip Salazar Hernandez & Gatmaitan is one of the most well-known names in the Filipino legal market and has established itself as one of the clear market leaders. The firm has offices in Manila, Davao, Cebu and Subic.
Focusses / specialisms
In addition to advising on traditional banking matters, the firm has a focus on aviation financing, fintech and Islamic finance and is the only Philippine member of the Islamic Finance Network.
The capital markets team’s experience covers matters involving bonds, notes, derivatives and hybrid securities.
The M&A team has extensive experience in merger notification and regulatory compliance-related work.
Sectors of activity include transport, agriculture, energy, banking and financial services, real estate, and food and beverage.
Key clients
Key clients include Citibank, Standard Charted, ING Bank, Mizuho Bank, Sumitomo Mitsui Banking, Bank of America, JP Morgan, SM Investments Corporation, Metro Pacific, San Miguel and Meralco.
Research period review:
33rd edition (2022/2023)
The banking team was active for a mix of lenders and borrowers on domestic and cross-border financings, include the first energy transition financing in the Philippines.
In the capital markets area, the firm advised on debt and equity transactions. On the debt side, it did a mix of issuer and underwriter side work on bond issues. On the equity side, it worked for joint issue manager, joint lead underwriter and joint bookrunner on IPOs.
In M&A, the firm was active on joint ventures, private acquisitions and public acquisitions. The deals were across different sectors including mining and natural resources, automotive and e-commerce.
The project team was active advising clients from power and energy, and infrastructure sectors.
In staffing changes, partner Marievic G. Ramos-Añonuevo retired from the firm in August 2022.
Deal highlights: 33rd edition (2022/2023)
Aboitiz InfraCapital/EdgeConneX joint venture.
Bain Capital Private Equity’s acquisition of VXI Global's BPO and information technology outsourcing business.
Bank of the Philippine Islands’ term loan facility.
The 90MW onshore wind project in Libmanan.
Client feedback: 33rd edition (2022/2023)
Banking and finance
“The Law Office has been able to maintain the expertise and knowledge in project finance and issuance of securities. They have updated the mandatory requirements for the same.”
Capital markets: Equity
“First, the firm was very well versed with the IPO process. As the Bank of Commerce was the first bank IPO in the Philippines after eight years, it was crucial that the firm was able to provide us with colour on what happened in these bank IPOs eight years ago as well as colour on recent IPO transactions in the country.
Second, the Bank of Commerce IPO also came at a time when the PSE was introducing major changes to the underwriting mechanics and conditions. The firm was crucial in coordinating and negotiating with the PSE (on behalf of the underwriters) about these changes.
Lastly, the firm is able to draft, turn around and provide views on documents in a quick and efficient manner.”
“Quality advice and practical approach.”
“Very professional and experienced. Excellent lawyers.”
Project finance
“Despite being a relatively young team, they have exuded professionalism in the work they undertake. The same Sycip team was working on another urgent transaction closing at the same time as our engagement. They observed proper resource allocation to ensure our engagement closes on a timely basis. Apart from its professional work, the firm was likewise selected based on its involvement in many landmark project finance transactions.”
“Very thorough.”
Simeon Ken Ferrer
“Atty. Ferrer immediately attends to the work required of the law office and responds to requests made at the earliest time possible.”
Bhong Macasaet
“Bhong is very approachable and accommodating. He responds to our questions in a timely manner.”
Joan Mae To-Conejos
“She is very responsive and makes sure to understand the full context and commercial relevance of legal concerns/queries we raise.”
“First, Joan Mae To-Conejos is quick to point out items of concern such as contentious suggestions, deviation from standard language/precedents, as well as legal risks and exposures. She is very transparent and does not sugarcoat potential issues and risks.
Second, Joan Mae To-Conejos turns around work quickly and efficiently. She has always met our timelines even if some of these were tight.
Lastly, Joan Mae To-Conejos has a deep trove of experience and institutional knowledge, gifts clients truly benefit from as they are able to anticipate potential issues that other firms/issuers have encountered before.”
Philbert Varona
“Very approachable and upfront.”
“Very patient and understanding of client requirements. Offers confidence to clients.”
