PMD brings together an experienced and technically qualified, multi-national team of professionals to create and implement innovative financial solutions. The Principals are supported by associates with a range of corporate, governmental, and investment banking backgrounds. PMD's experienced personnel and team approach provide efficient, high quality service which produces results.
Each PMD senior staff member has over two decades of experience in completing transactions in emerging markets.
PMD offers a broad range of project finance services. PMD’s Directors have represented corporations, financial institutions and governments in the structuring and financing of projects in many sectors, including power generation, petrochemicals, energy production, mining, communications, transportation and tourism. PMD has been involved in some of the world’s largest cross-border limited recourse financings and has long-standing relationships and in-depth experience with virtually all official export credit agencies, bi- lateral and multilateral financial institutions.
PMD’s Directors are identified with the development of two project finance innovations: the “Build-Own-Transfer” (“BOT” or “BOOT”) concept and the leasing of public sector infrastructure. PMD’s Directors were also responsible for the first use of Revenue Participation Certificates to finance infrastructure. PMD has advised corporations, financial institutions and governments on the planning, assessment, negotiation, financing and implementation of major resource and infrastructure projects. PMD will manage all aspects of a transaction from concept through implementation, which may include identifying potential investors, developing the ownership structure, obtaining government concessions and approvals, negotiating and finalizing project documents and securing all required funding.
PMD can reduce the time required to finance and implement a project, thus providing substantial cost savings. Additionally, PMD has the experience to recognize potentially insurmountable problems early in the process and has the candor to advise against proceeding with certain transactions, saving clients significant amounts of time and money.
PMD has provided project finance services to a number of the world’s largest multinational corporations, including ABB, General Electric Co., Marubeni Corporation, Samsung Corporation, Siemens A.G., United Technologies, Inc. and Westinghouse Electric Corporation. PMD and its Directors have advised or represented a number of major financial institutions on project financing, including Lazard Frères & Co., New York and Lazard Frères & Cie., Paris; the Private Sector Divisions of the World Bank and the Inter- American Development Bank and the export credit agencies of several countries, including those of the United States, the United Kingdom and Japan.
As one example of PMD’s recognized leadership in this area, in 1994 PMD was selected out of 252 respondents to a global tender to be one of five financial advisors to the Export - Import Bank of the United States (U.S. Ex-Im Bank). PMD was ranked first on technical merit out of the ten short-listed firms and the five firms ultimately chosen. Between mid- 1994 and 2000, PMD advised U.S. Ex-Im Bank on eighteen projects, over 50% of the transactions considered by the Project Finance Division during that period.
PMD raises funds for clients primarily through the private placement of debt or equity. PMD also provides advice to clients on raising funds from a wide variety of private and institutional sources and assists in structuring and negotiating such financing. The expertise in and knowledge of global financial markets of PMD’s Directors support the capability of PMD to structure, negotiate and arrange funding for transactions of varying sizes in diverse markets.
PMD assists companies to purchase or sell assets, identify partners, form joint ventures and make investments. The firm also advises on the restructuring of existing businesses to include recapitalization, divestiture or acquisition of assets. PMD has advised on acquisitions, divestitures and joint ventures in several countries in Asia, Africa, Central America and South America.
PMD’s Directors have represented governments and government-owned companies in two dozen countries over the past thirty years. PMD’s advisory experience and understanding of governmental issues and public policy concerns are extremely useful in facilitating the communication required to complete any government assignment successfully. PMD has extensive experience in advising governments on:
- • Increasing direct foreign investment,
- • Privatization,
- • Financing projects without government guarantees of debt repayment,
- • Private sector investment and financing for the development of infrastructure,
- • Financing energy and natural resource development,
- • Increasing indigenous investment through the development of new financial instruments and techniques,
- • Expanding sources of international financing,
- • Creation of new financing agencies,
- • Establishment of free trade or export zones,
- • Improving and streamlining foreign investment procedures and approvals, and
- • Transaction execution.
PMD’s Directors have advised a number of countries on the restructuring of both sovereign and private sector debt over the past thirty years. This experience includes:
- • Negotiating with the Paris and London Clubs on behalf of governments,
- • Working with commercial and/or investment banks and bi-lateral and multilateral agencies,
- • Completing complex financial and economic modeling,
- • Structuring solutions acceptable to diverse groups of creditors,
- • Managing controversial situations and related policy issues on behalf of governments and public sector entities,
- • Creating, implementing and administering debt-to-equity swap programs to promote foreign direct investment using defaulted debt.