sections

Tuesday, 29 July 2014

US interstate road

Indiana highway reaches financial close

The Indiana Finance Authority and I-69 Development Partners, led by Isolux, have completed the sale of US$244m private-activity bonds and reached financial close on I-69 Section 5 from Bloomington to Martinsville. Citigroup and Jeffries led the offering of multiple tranches of long and short-term bonds with interest rates which varied between 4-5.25%, maturing between 2017 and 2046.

Peru

Bonds open up in Peru

PFI Issue 533 - July 16, 2014

Peru has been upgraded by Moody’s to A3, providing a boost for project bonds. The Economy & Finance Ministry wants to raise US$10bn for infra projects each year. By Nic Stone.

Indonesia

Consortium declares force majeure

PFI Issue 533 - July 16, 2014

Bhimasena Power Indonesia (BPI) declared a force majeure on June 27. This is the first time such a declaration has been made in the country’s power sector. By Minerva Lau.

Areva

Nuclear banks fall in

PFI Issue 533 - July 16, 2014

The nuclear industry has come back to the capital markets for funds this decade. Generation schemes are not the only part of the chain that needs funds. By Stefano Berra.

Features

pf

PF treads water

PFI Issue 533 - July 16, 2014

The global project finance market saw a minor uptick in volume numbers in the first half of 2014, compared with the first half of 2013. Some notable deals were transacted to keep the volumes up and there was a good spread of other financings. However, the market is still suffering from too few deals as both the banks and institutions chase assets. The figures are researched from around the world to give a globally accurate guide to the project finance market.

Australia

Bonds are back in Australia

PFI Issue 532 - July 2, 2014

The Australian dollar bond market has re-emerged as a real funding alternative for infrastructure companies, but it’s not all doom and gloom for the banks. By Roderick Smythe, senior associate, King & Wood Mallesons.

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.

PFI Best Practice Report Cover 2014

PFI Asia Best Practice Report 2014

PFI Asian Best Practice Report

PFI has released its first Best Practice in Asia report - at a time when the procurement and development of projects has never been more critical as the region seeks to ensure its infrastructure keeps pace with its economic growth. The report includes a range of views from senior project practitioners plus the first PFI Citations for best practice. 

Oil

Oils fuel syndications

Going clubbing still seems to be the way to raise debt finance, even nearly six years after the onset of the global financial crisis (GFC) – apart from in one sector, oils, where large underwritings, oversubscriptions and scale-backs are, currently, the order of the day.

Digital Edition

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

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 rm.clientsupport@thomsonreuters.com.

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.