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Friday, 31 July 2015

Tabare Vazquez

Uruguay launches infra plan

Uruguayan President Tabare Vazquez revealed this week a US$12.37bn infrastructure programme for the next four years. Vazquez revealed that two-thirds of the required financing will come from the government, but that the final third was still being determined. The breakdown of projects will see US$4.33bn for the energy sector, US$2.36bn for highways and roads, US$1.87bn for social infrastructure and US$1.32bn for housing. The government said it did not expect to incur any extra indebtedness as a result of the plan and it is expected that pension funds will play a key role in the remaining funds needed for the programme.

Gas

Pipeline sector heats up

PFI Issue 558 - July 29, 2015

Lenders and sponsors alike are putting a lot of resources into the Mexican pipeline boom. The sheer number and attractiveness of the deals means competition for mandates. By Nic Stone.

India

Riding high on bonds

PFI Issue 558 - July 29, 2015

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.

Azerbaijan

New corridor seeks debt

PFI Issue 558 - July 29, 2015

Projects to ship oil & gas from Azerbaijan are currently in the capital markets. Despite low O&G prices, the deals are expected to get a decent response. By Rod Morrison.

Features

Cebu Mactan Airport envisioned facade

GMR takes DIAL expertise to Mactan-Cebu

PFI Issue 558 - July 29, 2015

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.

REUTERS/Benoit Tessier - The logo of Electricite de France (EDF) is seen on the company’s headquarters in Paris July 29, 2013

Hybrid refi secures power price visibility

PFI Issue 558 - July 29, 2015

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.

PFI Global Infrastructure Report Cover 2015

PFI Global Infrastructure Report 2015

PFI Global Infrastructure Report 2015

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?

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.

PFI India Report 2015 cover

PFI India Report 2015

PFI India Report 2015

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.

Oil

O&G gets an odd uptick

The oil price is falling again. Having recovered tentatively to US$65, it is back down to near US$50. Yet, amid the gloom, the project debt market still seems to be falling over itself for some types of oil & gas assets.

Project Finance MLA 2015 H1

# Arranger (US$m)
1 Mitsubishi UFJ 6,886.7
2 SBI Capital 6,345.4
3 BNP Paribas 4,644.9
4 SMBC 4,236.0
5 Credit Agricole 4,025.1
6 Deutsche 3,550.0
7 ING 3,197.5
8 Mizuho 3,162.5
9 Societe Generale 2,761.6
10 Morgan Stanley 2,470.5

Digital Edition

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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.