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Monday, 27 March 2017

Middle East Report 2010

PFI/IFR ME 2010

Middle East Report 2010

IFR/PFI Middle East Report 2010

The annual IFR/PFI Middle East Review comes at a time of renewed confidence in the region and its capital markets. The Dubai crisis has abated - although there is still plenty of restructuring work available for assets linked to Dubai Inc. The Middle East region is getting back to concentrating on growing on the path it had set itself before the Dubai, and indeed the global financial crisis, hit.

State of the GCC banking system

IFR/PFI Middle East Report 2010

Banking systems in the Gulf Co-operation Council region have been forced to tackle the aftermath of the boom but what kind of position do they find themselves in now? David French finds out.

International bank challenges

IFR/PFI Middle East Report 2010

Challenges for international banks operating in the Gulf Co-operation Council countries remain, but both borrower and lender are dependent on each other for future growth by David French.

Awaiting sukuk clarity

IFR/PFI Middle East Report 2010

A wave of sukuk defaults has called into question the integrity of an asset class that many had assumed was gold-plated. But despite at-times hysterical media coverage, the asset class is in the midst of a very normal maturing phase, and once legal precedents have been established, it will again flourish – at least in those jurisdictions where legal rights are enforced. Solomon Teague reports.

Looming FI debt mountain

IFR/PFI Middle East Report 2010

Banks have a significant amount of loan and bond debt to refinance through 2011 and into 2012. Can it all be done? asks David French.

Institutions take the lead

IFR/PFI Middle East Report 2010

The IPO market is finally reopening, but this time institutions will be key and internationalisation should result. Owen Wild reports.

Infra evolution revs up

IFR/PFI Middle East Report 2010

Those paying attention may have noticed – infrastructure is back on top of the regional agenda. By Christoph Vojc with Jonathan Robinson and Michael Cooper, HSBC MENA Project Finance

Power M&A in the Gulf

IFR/PFI Middle East Report 2010

The sale of the AES Oasis portfolio was a drawn-out saga but as the power sector grows in importance in the Gulf, it can be seen as an important trailblazer. By Rod Morrison.

The power of two

IFR/PFI Middle East Report 2010

At the end of May 2010, GDF Suez was awarded the mandate for the construction and operation of Barka 3 and Sohar 2, Oman’s next two IPPs. By the GSEI financing team: Karel Breda, Sandrine Vandeloise and Markus Fischer.

Innovative Emirates Steel

IFR/PFI Middle East Report 2010

Jean-Marc Mangiavellano, Ian Cogswell and Antoine Trieux of Natixis, financial adviser to both Emirates Steel Industries and its parent company General Holding Corporation, explain the financing of Emirates Steel’s US$2.5bn expansion project.

European Report 2010

European Report 2010

European Report 2010

PFI European Report 2010

The European infrastructure market is currently in a state of flux. The boom pre-financial crisis days were replaced last year by the stimulus programme days. Now the stimulus programmes seen to be coming to an end as governments concentrate on cutting budget deficits. Is the outlook therefore bleak for European infrastructure deals?

Barca wins trophy deal

PFI European Report 2010

Two phases of the €2.5bn Barcelona Metro Line 9 PPP have reached financial close and two more are pending. The scheme is one of the biggest metro rail projects in Europe. By Azadeh Sharafshahi.

PPP construction lending

PFI European Report 2010

Five lenders have signed the €700m 6-1/2-year construction facility for the Flemish school PPP, an ambitious school infrastructure renovation programme that incorporates more than 200 separate projects within one SPV. By Azadeh Sharafshahi.

Rationalising Thieno-Schio

PFI European Report 2010

UniCredit and Efibanca have entered as MLA and lenders a loan agreement with Summano Sanità SpA, the concessionaire of the Thiene-Schio hospital project, near Vicenza in north-eastern Italy. By Angelo Colombo, UniCredit.

Swedish landmark PPPed

PFI European Report 2010

Skanska and Innisfree have reached financial close on the landmark New Karolinska Solna (NKS) hospital PPP project. By David Rose and Richard Dodson of RBC Capital Markets’ social infrastructure team.

Lighting up Coventry

22 September 2010

The UK PFI sector has faced, and continues to face, various challenges. Umer Ahmad, director, infrastructure and structured project finance at Barclays Corporate, reviews those challenges in the light of financing a specific deal.

A second bundle of joy

PFI European Report 2010

The PPP market in Ireland remains active despite the crisis. By Donal Murphy, director, Global Project Finance,Bank of Ireland.

International ambitions

PFI European Report 2010

In August, the director general of projectco Northern Capital Gateway, Sergey Emdin, introduced the Pulkovo airport development project to a FIFA commission as part of Russia’s 2018/2022 World Cup bid. By Mark Kolmar.

Exciting prospects

PFI European Report 2010

After a raft of proposals for new transport infrastructure and the privatisation of existing assets, Turkey’s infrastructure sector fell quiet in recent years as credit markets tightened. Now, some major projects are grabbing the attention once again. By Mark Kolmar.

Global Infrastructure Report 2010

Global Infrastructure Report 2010

Global Infrastructure Report 2010

PFI Global Infrastructure Report 2010

The annual PFI Global Infrastructure survey is one of the most important in the PFI calendar and always attracts a good deal of interest from readers and contributors alike. Last year the survey carried a range of articles including case studies on the M25, Greater Manchester waste, A-5 and I-595.

Kuwaiti PPP challenges

PFI Global Infrastructure Report 2010

Things are on the move in Kuwait. By Tom Hiew, associate and Joss Dare, partner, Ashurst.

Plan de Relance and beyond

PFI Global Infrastructure Report 2010

With a number of large infrastructure projects on the market and in the pipeline, and state guarantees set to expire by the end of this year, the government is considering measures to extend guarantees while also studying proposals for the financing of projects beyond the Plan de Relance. By Azadeh Sharafshahi.

Pinhal overcomes drama

PFI Global Infrastructure Report 2010

On April 28 2010 the Pinhal Interior Road concession project reached financial close, but not without drama. By Nuno Gil, managing director, Espirito Sano Investment.

Roadmap for a new sector

PFI Global Infrastructure Report 2010

As much of the country suffered from the cold weather of this winter, one of the legacies left behind was the poor state of the roads and the number of potholes. By Nick Knight.

On the rise in the Golden state

PFI Global Infrastructure Report 2010

When California Governor Arnold Schwarzenegger signed Senate Bill 4 into law on February 20 2009, a struggling attempt to establish P3s as a viable solution to infrastructure needs finally got the boost it needed. By Allan T Marks, partner, Milbank Tweed Hadley & McCloy.

DRIC uncertainties loom

PFI Global Infrastructure Report 2010

Several years into development, the Detroit River International Crossing (DRIC) remains the subject of controversy and intense debate, with the latest round related to widely disparate traffic forecasts. The major international infrastructure players remain extremely interested, as they try to sway the DOT from a traffic risk to an availability payment structure. By Alison Healey.

Chile's infra quake

PFI Global Infrastructure Report 2010

For years, Chile had the paradigm for toll road concessions – good roads, private participation and plenty of traffic. Did the February 27th earthquake that damaged the country’s core force changes in Chile’s financial structure of toll roads and is more project finance on the horizon? By Alan Gersten.

If it's time - The issues

PFI Global Infrastructure Report 2010

For some time now, international construction companies, equity houses and debt providers have waited with baited breath for the Indian infrastructure market to provide them with endless opportunities. By Andrew Fraiser, partner, Allen & Overy LLP, and Akshay Jaitly, partner, Trilegal.

Linking the cities

PFI Global Infrastructure Report 2010

Developments in the Philippine road sector have been making headlines recently in the local papers. Like most countries in the region, the Philippines still requires massive transportation development and improvement, and the private sector is responding. By Minerva Lau.

Australia - State of play

PFI Global Infrastructure Report 2010

This year is turning out to be a reasonably busy one for PPPs in Australia. By Geoff Daley, head of infrastructure advisory, RBS Group (Australia).

Filling the WA infra gap

PFI Global Infrastructure Report 2010

The movie cliché of, “if you build it they will come”, has taken a reverse twist in the Australian state of Western Australia. By John Arbouw.

Global Energy Report 2010

Global Energy Report 2010

Global Energy Report 2010

PFI Global Energy Report 2010

The Project Finance International Global Energy report will this year focus on the leading energy finance transactions signed in recent months - a hectic few months as the market returns back to health following the credit crunch.

Ruby gets better terms

PFI Global Energy Report 2010

With a US$3bn price tag, the Ruby Pipeline was considered an ambitious project and not a sure thing in terms of obtaining financing under difficult market conditions. But the deal enjoyed tremendous success, with an oversubscription and terms more favourable than El Paso had predicted. By Alison Healey.

When the wind blows

PFI Global Energy Report 2010

After three air trips and a four-hour car ride, Elizabeth M Robberechts, an IDB project specialist, had reached the site of Acciona’s wind farm project. By Alan Gersten.

Nord Stream - It's done!

PFI Global Energy Report 2010

The €3.9bn debt for the €5.5bn phase one of the Nord Stream gas pipeline project reached financial close in April after 18 months in the market. By Mark Kolmar.

Electro-intensive PF

PFI Global Energy Report 2010

The first €2bn phase of the Exeltium project has reached financial close five years after a group of electro-intensive industrial manufacturers set out to find a long-term arrangement to cope with increased electricity prices following the market’s deregulation. By Azadeh Sharafshahi.

When dreams turn to reality

PFI Global Energy Report 2010

Who would imagine that it would be possible to close a long-term PF deal in Oman in the midst of the financial crises? By Ravi Suri, managing director and regional head - Project & Export Finance, and Abbas Husain, managing director, Project & Export Finance, Standard Chartered Bank.

Collgar blows new wind

PFI Global Energy Report 2010

Allens Arthur Robinson partner Phillip Cornwell, and senior associate Simran Sandhu, with input from institutional investors, review the Collgar project and the continuing emergence of wind power as a mainstream power source.

New power in Cebu

PFI Global Energy Report 2010

International banks are financing a merchant power plant in the Philippines. By Jeanne Soh of Sumitomo Mitsui Banking Corp, Patricia Tan Openshaw, Joseph Kim and Cristina Uy-Tioco of Paul Hastings Janofsky and Walker.

Indonesian IPPs return

PFI Global Energy Report 2010

On March 8 2010, the financing agreement for PT Cirebon Electric Power (CEP) was signed. Erwin Maspolim, managing director, and David Uy, director of ING Bank’s utilities and infrastructure finance, Asia, discuss the project.

Ruby gets better terms

12 March 2013

With a US$3bn price tag, the Ruby Pipeline was considered an ambitious project and not a sure thing in terms of obtaining financing under difficult market conditions. But the deal enjoyed tremendous success, with an oversubscription and terms more favourable than El Paso had predicted. By Alison Healey.

India Report 2010

India Report 2010

India Report 2010

PFI India Report 2010

India, the largest democratic country in the world, continues to remain strong. It is already a superpower on its own right. While global recovery is anticipated to be sluggish in 2010, India is expected to buck the trend and continue to demonstrate resilience to the global financial crisis.

Inevitable rapid change

PFI India Report 2010

Change is inevitable, and in India the change has been rapid and wide-ranging during the last few years. The turn of the decade has put the spotlight on the country, which has become fourth largest economy in the world. Minerva Lau writes.

Internationals into India

PFI India Report 2010

The latent demand for infrastructure in India, the rapid increase in infrastructure development in recent years and the need for attracting international funding to meet the significant cost of developing such infrastructure are indisputable. By Abhay Rangnekar, managing director and head project and export finance, South Asia and Sameer Usgaonkar, director, project and export finance, South Asia, Standard Chartered Bank.

OMPL goes aromatic

PFI India Report 2010

The petrochemical industry plays a vital role in the economic growth and development of a country. By Mrinal Kher, associate and Rajesh Agarwal, vice president, project advisory & structured finance, SBI Capital Markets.

Jhajjar Power − Financing an IPP

PFI India Report 2010

By S Jeyakumar, general manager and Yashpal Gupta, general manager structuring, syndication and advisory at IDBI Bank.

Impact of carbon finance

PFI India Report 2010

Dipankar Ghosh, partner and Amrita Ganguly, consultant, Climate Change and Sustainability Services, Ernst & Young, India write about the impact of carbon financing in the power sector.

Cementing power and road

PFI India Report 2010

Once upon a time, in 1958, there was a man with a vision. Since then there has been no looking back for Jaiprakash Gaur. Minerva Lau writes.

Funding the six-lane Yamuna

PFI India Report 2010

For a country of India’s size, an efficient road network is necessary both for national integration as well as for socio-economic development. By Debdutta Bandyopadhyay, assistant vice president and Sharad Gupta, manager, Axis Bank.

Evolution of PPP roads

PFI India Report 2010

The following is written by Amrit Pandurangi, Vishwas Udgirkar, Pranavant, Kushal Singh, Ashutosh Bhandari and Akshay Purkayastha of Infrastructure & Transport Group, PricewaterhouseCoopers, India.

Towering telecoms

PFI India Report 2010

Sharing of telecom infrastructure among different operators has been a relatively new business within the telecom ecosystem internationally and in India. By Jaideep Ghosh, director and Puneet Punyani, senior consultant at KPMG Advisory Services, India.

Yearbook 2010

Yearbook 2010

PFI Yearbook 2010

PFI Yearbook 2010

Welcome to the PFI Yearbook 2010. And vive la France! It has not necessarily felt like a French year, 2009, but looking at our awards it certainly appears to have been so. French banks, sponsors and equity investors all take pride of place. In part, this was a coincidence – certainly all the awards were viewed and judged separately – but maybe there is a common link.