Bidders line up for RREEF
Reports suggest that at least five bidders have formed to bid for the sale of Deutsche Bank’s asset-management arm RREEF. Macquarie, JP Morgan, State Street, Ameriprise, Aquiline Capital and Apax have all been touted by market sources as chasing the sale. Second round bids are due next week with binding offers made in mid-February. Deutsche is set to make its decision in March.
Top Stories
Project bonds may fill gap
European banks are going back home, leaving the LatAm market with a hole to fill. So what will fill the gap? Maybe project bonds, especially in Brazil. By Alan Gersten.
Super loans
Australian super funds are waking up to the idea of expanding their investments beyond equity, fixed interest and mortgage debt. Project loans is one area they are considering, at home and abroad. By John Arbouw.
RFF highlights competition
RFF notes fierceness of competition for final rail tender. It adds that the election creates a tight window for financing. By Robert Smith
PF MLA 2011
| # | Arranger | (US$m) |
| 1 | SBI Capital | 21,631.6 | |
| 2 | Mitsubishi UFJ | 9,486.1 | |
| 3 | SMBC | 8,188.1 | |
| 4 | Credit Agricole | 6,506.4 | |
| 5 | Mizuho Financial | 5,797.5 | |
| 6 | Societe Generale | 5,760.5 | |
| 7 | BNP Paribas | 5,390.8 | |
| 8 | Axis Bank | 5,216.9 | |
| 9 | IDBI | 5,126.3 | |
| 10 | ING | 4,916.1 | |
PFI Comment
Local banks to the fore
The trend began after the first financial crisis in 2008/9 but is now accelerating. Emerging market local bank financing is becoming a more crucial element of the project funding mix – for corporates in their home and overseas markets.
Features
Manjung Island Energy funds Islamically
Late last year, TNB Janamanjung Sdn Bhd (TNBJ), a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB), via Manjung Island Energy Berhad (MIEB), issued M$4.85bn of Islamic securities pursuant to its M$5bn Islamic Securities Programme. By Lee Chin Tok and Shantala Menon, CIMB Investment Bank.
DOE loan guarantees under attack
There are storm clouds on the horizon for US alternative energy. By Herbert A Glaser, Gilbert D Porter and Micaela Garcia-Ribeyro, Haynes and Boone LLP1.
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