PMD INTERNATIONAL, INC.
Annapolis · London
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International Project Finance Sectors Regions |
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Fund Management |
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Debt Restructuring |
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Government Advisory Experience |
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Corporate
Finance, Acquisition & Divestiture |
Copyright ©
2003
PMD International, Inc.
All Rights Reserved
International Project Finance
Because of PMD's focus on projects in developing countries, the firm has developed a unique ability to create original solutions to difficult financing situations, resulting in the successful attraction of the necessary partners, other investors and lenders.
PMD’s breadth of contacts among sources of funding goes well beyond that of the major international banks and bilateral and multilateral credit agencies in financial capitals. PMD maintains a detailed knowledge of parties with potential interest in transactions in virtually all parts of the world. PMD has successfully concluded transactions in locations often considered too difficult by other institutions.
Development of New Financial Technology
PMD senior staff were instrumental in the development of the "Build-Own-Transfer" ("BOT") and "Build-Own-Operate" ("BOO") methods of project financing.
These models are based on concepts developed for projects in Turkey and Southeast Asia in the early 1980s. Since then, the BOT and BOO concepts have been successfully implemented and further refined in a significant number of infrastructure projects in a range of countries.
PMD senior staff were also instrumental in developing the concept of leasing public sector infrastructure in developing countries. PMD has applied this concept in telecommunications, transportation and advanced electronic systems.
PMD senior staff
developed the structure and implemented the first use of revenue participation
certificates in local currency to finance infrastructure.
Project Advisory Services
PMD advises investors, lenders and governments in completing large, complex project transactions.
From 1991-1994, PMD advised the Government of Indonesia in its negotiation of the Paiton I power project, the first private power project in Indonesia. At US$2.5 billion, the project was the largest limited recourse financing of a private power station in a developing country at that time.
In a global competition conducted in 1994, PMD was selected as one of five financial advisors to the Project Finance Division of the Export-Import Bank of the United States. Between mid-1994 and mid-2000, PMD advised on nineteen projects, over fifty percent of the projects considered by the Division.
PMD has experience managing a project through all phases, from conception through procurement, financing, finalization of documentation and the commencement of construction through commercial operation.
PMD will assist, supervise or directly undertake the tasks necessary to implement a transaction, including:
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Evaluation of project concepts
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Preparation of feasibility studies
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Preparation of requests for proposals and /or responses
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Evaluation of responses and selection of contractors, suppliers, legal and technical advisors and other consultants
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Development of a financial plan
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Identification and selection of lenders
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Coordination of engineering, legal, commercial and financial tasks and scheduling
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Negotiation with investors, contractors, suppliers, financiers and governments on project, financing & security documents, concessions, approvals and permits, procurement of equipment and services
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Completion of other required tasks necessary for project implementation
PMD draws on its considerable experience in developing, financing and implementing projects to ensure that the process moves efficiently and expeditiously.
PMD believes that the fundamental premise underlying any extension of financing or financial support to a project is that the project has a reasonable prospect of being built on time and within budget, and that if the project is built as planned, the project will work as proposed. PMD believes the first requirement to understanding project economics and a "reasonable prospect of return on investment or repayment of debt" is understanding the engineering, technical and operational basis of the project. If the project cannot be built as planned, or will not work as proposed, the probability of achieving rate of return objectives or a reasonable prospect of repayment deteriorates significantly. Consequently, each PMD project team includes an individual with extensive, recognized technical expertise specifically relevant to each assignment. Whether representing sponsors, lenders or governments, this technical component has provided a significant advantage to PMD’s efforts.