Thursday, 30 July 2015
India is currently going through a mini restructuring and refinancing boom as its prepares, hopefully, to fund new much-needed infrastructure investment in the coming years. The Modi government has so far had one year to push forward economic growth. The euphoria surrounding the new government has died down but key decisions are now being taken. To read the PFI India Report, please click on the Special Reports tab.
India is beginning to develop a growing appetite for bond issuance. For road projects, the bond market offers an attractive alternative to loans, and is now making a buzz. By Minerva Lau.
The need for upgrading of the existing Mactan-Cebu airport facilities in the Philippines has been recognised for some time, leading to a situation where the airport, originally built as a US air force runway in the 1950s, is severely stretched. By Sean Conaty of Hogan Lovells and Christine Genalin C Uy of Asian Development Bank.
The refinancing of Exeltium, one of the largest European power deals, featured an innovative dual-track debt-raising process targeting banks and institutional investors that resulted in improved terms and conditions – paving the way to restore electricity price competitiveness and predictability among Exeltium’s clients. By Emmanuel Gillet Lagarde, head of Europe and Stéphane Dubos, executive director, at Natixis Global Infrastructure & Projects.
As the confidence in the debt markets reaches new post global financial crisis highs and the investment community remains keen on finding new assets to finance, a key question in the report concerns deal flow. Where will the next deals come from?
It’s been a year since Narendra Modi – the leader of Bharatiya Janata Party, has been elected into power to head the Indian government. Last year, the PFI report looked at “Rebooting India”, offering ideas and proposals from the financial market and developers on how to ease the bottleneck and problems facing infrastructure development. Since then, the government has started to introduce more transparency in the implementation of pro-growth policies.
To read the PFI Magazine or Yearbook Digital Edition you will need to enter your details in the login section. If you have forgotten your password, or would like to find out more about PFI subscriptions, please email IFR.ClientSupport@thomsonreuters.com.
Welcome to the 2015 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2014, through case studies and the PFI Awards, and look forward into 2015 with articles in the Global section of the book. This year we have interviewed and profiled a host of leading sponsors from the Americas, Asia-Pacific and Europe Middle East & Africa (EMEA) to take the market temperature – to see how the clients are viewing market prospects.