Tuesday, 25 April 2017


HS1 bids due in May

The first round bids for the HS1 high speed rail asset between London and the Channel Tunnel are due on May 10 from Amber/Dalmore/DIF and Axa/Equitix/Infrared. The asset is already has £1.9bn in fixed rate debt although some more holdco debt could be added. The asset is being sold by Borealis and OTPP.


Running covenant hits midstream assets

PFI Issue 599 - April 20, 2017

A court ruling, recently affirmed on appeal, has hit midstream assets. New language will be needed to ensure new deals are financed this year. By Alison Healey.

Ajarin Pattanapanchai, deputy secretary general of the Thailand Board of Investment, speaks during an interview in New York, 2014

Gulf Energy perks up Thai market

PFI Issue 599 - April 20, 2017

Thailand’s Board of Investment has approved incentives for the massive Gulf IPP. Gulf is now in full preparation mode, perking up the quiet power sector, almost four years since the 2013 win. By Minerva Lau. 


Auction sets stage for merchant renewables

PFI Issue 599 - April 20, 2017

Spain is launching a long-awaited technology-neutral renewable power auction. The tender could usher in an era of challenging merchant renewables financing. By Stefano Berra


The Calatagan solar farm

Financing solar in the Philippines

PFI Issue 599 - April 20, 2017

In a race among solar developers in the Philippines to achieve project completion and compliance with the rules set by the Department of Energy (DOE), renewable power projects have rushed construction and development to become eligible for the coveted feed-in-tariff (FiT) system. By Jose Eduardo A Quimpo II and Camille Jasmine Aquino of BDO Capital & Investment Corporation.

Outside one of the plants

Hedcor Sibulan – Tapping new avenues

PFI Issue 599 - April 20, 2017

Hedcor Sibulan is the first project to be financed by a note facility in the Philippines, introducing infrastructure financing to non-bank institutional investors. By Arsenio Kenneth M Ona, first vice president at the Investment Banking Group of First Metro Investment Corporation (FMIC).

PFI Global Energy Report 2017

PFI Global Energy Report 2017

PFI Global Energy Report 2017

The global energy finance market faces a range of new challenges and opportunities. PFI has published its Global Energy supplement featuring a host of case studies and articles on current trends and issues. The offshore wind sector is taking centre stage right now with Japan, South Korea and the US joining Europe in building out new developments. 

PFI Comment


Dakota in the dark

The controversy surrounding the Dakota Access pipeline has shaken the project finance community – along with, of course, a host of other interested parties in the scheme. Every so often a controversial project comes along that tests those involved.

Project Finance MLA 1Q 2017

# Arranger (US$m)
1 ICBC 2,559.8
2 MUFG 2,285.4
3 SMBC 2,110.4
4 CBD 2,090.2
5 Mizuho 1,642.9
6 Credit Agricole 1,600.6
7 ING 1,501.8
8 BNP Paribas 1,349.8
9 SBI Capital 1,299.9
10 Societe Generale 1,063.7

Digital Edition

Access a digital edition of the latest print magazine here. Access the digital edition of the PFI Yearbook 2017 here.

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PFI Yearbook 2017 Cover image

PFI Yearbook 2017

PFI Yearbook 2017

Welcome to the 2017 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2016, through case studies and the PFI Awards, and look forward into 2017 with interviews and articles in the Global section of the book.