by Peter J. Calderon
Peter J. Calderon, Esq., Senior Consultant
Broad exposure over 35 years to government officials, international financial institutions, investment banks and major law firms in connection with investment transactions in developing countries and emerging markets, privatization and anti-corruption programs, the development of compliance and due diligence procedures, advice on strategies for sale of assets and review of proposed legislation and transactional documentation.
Extensive experience in negotiating and drafting investment documentation for complex structured finance transactions for infrastructure projects in the power and telecommunications sectors.
Expertise in corporate finance, including financial and securities systems; negotiation and documentation of publicly- and privately-placed debt issues and derivative instruments in the international capital markets; drafting of under-writing agreements, offering circulars and swap agreements for these transactions.
Provision of advisory services in connection with legal and regulatory.asp.html"cts of foreign investment, mortgage recordation and real property registries.
Chief counsel, International Finance Corporation (“IFC”) (1988-97) reporting to IFC and World Bank senior management on policy-related.asp.html"cts of IFC's business. In this role, authored and co-authored various World Bank President’s Reports, including: 1997 World Bank Group Report on Anti-Corruption Initiatives; 1992 IFC General Capital Increase; 1991 IFC Special Capital Increase; IFC Investments in Mixed Private and Public Sector Enterprises - An Overview; IFC Financing of Small- and Medium-Sized Enterprises through Financial Intermediaries; IFC's Policy and Practice on Reschedulings; IFC's Policy and Practice on Investments in Jeopardy; Report to the Board on New IFC Investment Procedures; Report to the Board on Investment of IFC's Liquid Assets; Reports to the Board on IFC’s Annual Funding Programs.
Senior counsel, IFC (1984-88) for market borrowings and liquidity management. In this role, negotiated and documented IFC’s first market borrowings in U.S. dollars, Deutsche mark, Japanese yen, ECUs and Spanish pesetas; negotiated and documented IFC’s first swap and derivative transactions (currency and basis swaps, futures, options, warrants, etc.); handled IFC’s first public issues in European and U.S. capital markets; secured U.S. legislation exempting IFC’s debt securities from SEC registration; directed legislative eligibility program for IFC’s bonds in 20 states; directed compliance program for securing and sustaining IFC’s AAA debt rating in the capital markets.
Specialized in the foreign investment, repatriation and privatization regimes of IFC’s members with centrally-managed and/or transition economies (Russia, China, Yugoslavia, Hungary, Romania, Bulgaria).
As a World Bank secondee to France’s Ministere de la Cooperation, advised the French
Government on the organization of Legal Departments at Agence Francaise de Developpement and PROPARCO (1997).
IFC representative on World Bank Anti-Corruption Task Force (1996-97); co-authored
President's Report on Anti-Corruption Initiatives to World Bank's Executive Directors
(1997); authored IFC’s policy concerning neutralizing the impact of corrupt practices in
IFC’s investment transactions (1996-97).
Authored IFC's Operating Policies and Procedures in 1987 and subsequent updates in 1993 and 1996.
Corporate Finance Services Department (1993): promotion of IFC's fee-based advisory work in Hungary and Romania.
Drafted Information Memorandum and Offering Circular for IFC’s first debt offering in the international capital markets (1985).
Faculty member at first World Bank investment conference in China: Project Finance for Joint Venture Managers, (Beijing, November 1983).
Conducted IFC’s first enforcement operation for an investment in default (INTAMASA, Spain, 1983).
Member of task force that created the World Bank's Administrative Tribunal, the final jurisdictional arena within World Bank’s conflict resolution system (1978-79).
Structured and drafted IFC’s first variable-rate (LIBOR) syndicated B loan (1975).