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Friday, 22 August 2014

Perth

Perth rail link goes private

The Western Australian government will need the private sector to help fund the planned A$2.2bn rail link from the Perth CBD to the airport. The rail link will replace the previously mooted light rail link. The rail project will take the form of twin bored tunnels and will become the longest section of underground rail in Perth. Three new stations will be built, transporting 20,000 passengers a year. The government said earlier this month that it would sell government assets to pay for the rail link but will obviously look at private sector funding as well.

US

Solar securitisation gets larger

PFI Issue 534 - July 30, 2014

SolarCity’s latest securitisation was notable for both its size and the improving terms. The renewables securitisation space is growing and now has riskier elements. By Alison Healey.

Port of Melbourne

M&A provides fee bonanza

PFI Issue 534 - July 30, 2014

The privatisation of Australian state government assets is providing a fee bonanza. Banks and advisory firms are pitching for a variety of mega deals. By John Arbouw.

South Africa

REIPPP 3 financing delayed

PFI Issue 534 - July 30, 2014

Financial close for the renewable energy (REIPPP) third bidding round has been extended. State utility Eskom is struggling with the cost of grid connection. By Colin Leopold.

Features

India

Landmark proposals for Indian infra

PFI Issue 534 - July 30, 2014

The Reserve Bank of India (RBI) has recently come up with new norms on providing infrastructure lending by banks, aptly titled “Flexible Structuring of Long-Term Project Loans to Infrastructure and Core Industries”. By Rajesh Agarwal, SK Agarwal and Narayan Subramaniam of SBI Capital.

Star

A Star is born in Turkey

PFI Issue 534 - July 30, 2014

The Socar Turkey Aegean Refinery (Star) project is a unique and ground-breaking transaction. The project not only represents the largest foreign investment in a single location in Turkey to-date but also the largest long-term limited recourse multi-source financing in Turkey. By Nabil Khodadad and Andrew Nealon, Vinson & Elkins, and Cem Orekli and Christian Eberl, UniCredit.

PFI Global Infrastructure Report Cover 2014

PFI Global Infrastructure Report 2014

PFI Global Infrastructure Report 2014

The keenly awaited annual Project Finance International (PFI) Global Infrastructure report has been published at a time when the market is turning. More long term liquidity is available for infrastructure schemes, pricing on shorter term infraco deals is moving down encouraging sponsors back into bidding for assets and the projects pipeline is showing signs of growing once again.

Hubbing in Singapore

PFI Asian Best Practice Report

Singapore, with its developed infrastructure, has a new offering to its neighbours. It is presenting a platform that will help them address issues on infrastructure development, at the same time encouraging a best-practice approach. By Minerva Lau.

PFI India Cover 2014

PFI India Report 2014

PFI India Report 2014

This is the 8th year that PFI is putting together an annual report on India. It comes at a special time when the country has just elected a new prime minister – Narendra Modi – the leader of Bharatiya Janata Party, who broke the status quo and is expected to bring marked changes to the direction the economy has been going through. The theme of the report will thus be “the rebooting of India”.

UK

Simple solutions need not apply

What is it with waste projects? They never seem to get it quite right – well, at least, in a number of cases. Still they come back for more finance, and still they usually get it. The economic value of the assets to society is high, when society actually wants them, but the real value can be variable.

Digital Edition

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Project Finance MLA H1 2014

# Arranger (US$m)
1 BNP Paribas 5,825.0
2 SMBC 5,515.1
3 Mitsubishi UFJ 4,947.7
4 Credit Agricole 3,746.4
5 Mizuho 3,560.7
6 HSBC 3,498.7
7 ING 3,160.0
8 CBA 3,092.0
9 Societe Generale 2,710.7
10 RBC Capital Markets 2,399.1

PFI Global Energy Report Cover 2014

PFI Global Energy Report 2014

PFI Global Energy Report 2014

The Global Energy report takes a look at the full range of issues currently exercising the project finance market - from funding schemes in Africa and obtaining finance for coal fired plants onto renewables, FLNG and the LNG boom in North Americas.

PFI Asia-Pacific Report Cover 2014

PFI Asia-Pacific Report 2014

PFI Asia Pacific Report 2014

The need for rail road, power, port and resources infrastructure has become an economic priority for countries across the Asia Pacific. The lessons from past infrastructure financing failures have also been learned as governments, sponsors and lenders frame new financial structures that share and minimise financial risk during construction.