sections

Monday, 27 April 2015

Roma

Funds bid for Rome airport

Atlantia is finalising the sale of equity stake in Aeroporti di Roma in Italy to one or two investors, according to Italian financial daily Sole 24 Ore. The paper reported that Abu Dhabi’s ADIA has been pre-selected to buy a stake of 15%-20%. It said Atlantia was carrying out a beauty contest with investors including Kuwait’s Wren House, Canada’s Borealis Infrastructure and Singapore’s Temasek for another stake of between 15% and 20%. Lazard is advising on the sale.

Christopher Christiansen, executive vice president, Alevo Energy

Batteries search for bankability

PFI Issue 551 - April 22, 2015

Several big name battery storage transactions have grabbed headlines in recent weeks. Some in the industry believe contracts could be structured similar to gas tolling to facilitate deals. By Alison Healey.

Sat

NewSat falls to earth

PFI Issue 551 - April 22, 2015

The financing of Australian telecoms satellite by NewSat was meant to be a signature project. Last week NewSat was put on the verge of collapse after being placed into administration. By John Arbouw.

EU

Prodigals return

PFI Issue 551 - April 22, 2015

Debt pricing in Europe’s periphery countries is collapsing as banks hunt for yield. Fears are growing that Ireland is approaching levels in Germany. By Stefano Berra and Colin Leopold.

Features

Oil

Reserving judgement on RBL

PFI Issue 551 - April 22, 2015

The continued low oil price environment has placed considerable strain on the ability of independent oil and gas companies to plan for projected expenditure and to raise and retain debt. This article considers the impact of the continuing lower oil price environment on the reserve-based lending market and the capital structures of independent oil and gas companies, as well as exploring some emerging solutions and opportunities. By Thomas Bethel, partner, Herbert Smith Freehills.

Rabigh

Expansions – Time to double down

PFI Issue 551 - April 22, 2015

The Rabigh 2 expansion project is the latest chapter in the story of expansion financings in the oil and gas market and demonstrates the wealth of experience shared by sponsors, advisers and lenders that have participated in similar transactions that have come before. By Jason Kerr, partner, Carina Radford, associate and Anthony Elghossain, associate, White & Case.

PFI Yearbook 2015

PFI Yearbook 2015

PFI Yearbook 2015

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.

PFI Global Energy Report 2015 cover

PFI Global Energy Report 2015

PFI Global Energy Report 2015

With global energy markets in a state of flux following the collapse in the oil price from last autumn onwards, the timing of the publication of the report could not be better.

LNG

LNG gets too risky

One sector, until now, has had an exemplary record when analysing global project credit performance – LNG. The problems of the telecoms boom of the late 1990s, the power boom of the early noughties and then the infraco M&A boom later in the decade all past by the LNG sector. But that record is changing.

Project Finance MLA 2015 Q1

# Arranger (US$m)
1 Mitsubishi UFJ 3,434.0
2 SMBC 2,411.6
3 Mizuho 1,748.6
4 Credit Agricole 1,490.6
5 SBI Capital 1,303.2
6 Societe Generale 1,289.0
7 BNP Paribas 1,176.1
8 KfW IPEX 1,042.3
9 Natixis 993.9
10 ING 787.7

Digital Edition

Access a digital edition of the latest print magazine here. Access the digital edition of the PFI Yearbook 2013 here.

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