Cristina Uy-Tioco is an of counsel in Hong Kong. She is a member of the firm’s Corporate Department and its Global Finance and Energy & Infrastructure Practice Groups.
Ms. Uy-Tioco’s practice is focused on the energy and infrastructure sectors where she has done several project development and financing, as well as M&A, deals. She has over 20 years experience advising on Philippine power and infrastructure projects and representing various players in the industries, including project companies, lenders, insurers, contractors and government entities. She advised First NatGas Power Corp. in the development of the 414 MW gas-fired power plant in Batangas, Philippines; First Gas Power Corporation and FGP Corp. in the refinancing and operation of the 1,000 MW and 500 MW CCGT power projects, respectively; the syndicate of lenders led by K-EXIM and ADB in the financing of KSPC’s 200 MW coal-fired power plant in Cebu, Philippines; CBK Power Company Limited (CBK) in the operation of its 725 MW hydropower plant in Laguna, Philippines, as well Industrias Metalurgicas Pescarmona, S.A. in the sale of its interests in CBK to Electric Power Development Company and Sumitomo Corporation (which deal won best Asian project finance deal award); and Mirant Corporation in the sale of its interests in the Sual, Pagbilao and Ilijan power projects to Tokyo Electric Power Corporation and Marubeni Corporation (which deal was awarded Deal of the Year by Asian Counsel).
Ms. Uy-Tioco also advises on power projects in Indonesia, Vietnam, India and Myanmar. She advised the project company in the development and financing of the 660 MW Cirebon coal-fired power project in Indonesia, which was the first IPP greenfield power generation facility awarded by the Indonesian government following the 1997 Asian financial crisis, as well as the contractors in the bidding for the Nghi Son coal-fired power projects in Vietnam.
Ms. Uy-Tioco gained her Master of Laws from Georgetown University Law Center in 2001, her Juris Doctor (Second Honors) from Ateneo de Manila University School of Law in 1995 and her Bachelor of Science (Economics) degree from the University of the Philippines in 1989. She is admitted to practice in both New York and the Philippines and is fluent in English and Filipino.
Power & Infrastructure Representations*
- A consortium in the proposed development and financing of a solar power project in the Philippines; completed negotiations for and preparation of the EPC contract.
- A Philippine government agency in its restructuring of an existing infrastructure project.
- AES Corporation in its participation in the bidding conducted by the Philippine government for the 600 MW Masinloc coal-fired power plant.
- CBK Power Company Limited on i) lenders’ and operational issues relating to the 755 MW pumped storage hydroelectric power plant located in Laguna, Philippines; and ii) the renegotiation with the Philippine government and a syndicate of 19 foreign lenders of the build-operate-transfer agreement and the sale of the interests of IMPSA of J-Power and Sumitomo Corporation.
- The Export-Import Bank of Korea, Asian Development Bank , Sumitomo Mitsui Banking Corporation , Crédit Agricole and ING as lenders in the financing of the 200 MW coal-fired power project developed by KEPCO in Cebu, Philippines.
- First Gas Power Corporation in the US$544 million refinancing of the gas-fired 1,000 MW Santa Rita power plant in the Philippines. KfW IPEX-Bank GmbH was appointed as an MLA to the refinancing and participated in both the covered and uncovered tranches of the refinancing. Further, an outstanding Kreditanstalt für Wiederaufbau facility covered by HERMES, was retained from the original 1997 financing of the Santa Rita power plant.
- First Gen Corporation in its US$360 million acquisition of BG Group’s power assets in the Philippines, including 40% stakes in the 1,000 MW Santa Rita combined-cycle natural gas-fired power plant, the 500 MW San Lorenzo combined-cycle natural gas-fired power plant and the corporate vehicle for the development of the San Gabriel power project.
- First NatGas Power Corporation, a wholly-owned subsidiary of First Gen Corporation, in connection with the development and financing of the 414 MW San Gabriel combined cycle natural gas-fired power plant, including the recently concluded engineering, procurement and construction contract with Siemens AG and its subsidiaries.
- Industrias Metalurgicas Pescarmona, S.A. in the sale of its interests in CBK Power Company Limited to Electric Power Development Company and Sumitomo Corporation in 2005, which was awarded “Deal of the Year 2005” by Asian-Counsel.
- Mirant Corporation in the US$700 million refinancing facility obtained in 2006 from foreign financial institutions led by Credit Suisse and the US$3.4 billion sale of Mirant’s Philippine business consisting of power plants in Sual, Pagbilao and llijan, Philippines. This was one of the largest energy acquisition in Asia in the last ten years. The transaction was awarded “Deal of the Year 2007” by Asian-Counsel.
- PT Cirebon Electric Power, a consortium led by Marubeni Corporation and Korea Midland Power Company, as sponsors in the development and financing of a 660 MW Cirebon coal-fired power project in Indonesia. The Cirebon Project is the first IPP greenfield power generation facility awarded by the Indonesian government since the 1997 Asian financial crisis.
- San Miguel Corporation in the structuring and documentation of San Miguel’s participation in the bidding conducted by the Philippine government for the 600 MW Calaca coal-fired power plant.
- Shanghai Electric Company in connection with certain financing issues relating to its equipment supply contracts for the 3,960 MW Sasan power project in India.
- The consortium of Triratna Holdings Corporation, Newbridge Asia IV, L.P. and Tenaga Nasional Berhad in relation to their participation in the bidding conducted by the Philippine government for the transmission assets of the National Transmission Corporation.
*Matters worked on by Ms. Uy-Tioco prior to joining Gibson Dunn in July 2014