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December 2011
Assured Guaranty replaced Ambac as the guarantor on the £92.7 million of bonds issued by the Worcestershire Hospital
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BAM’s PPP focus has been on highly-rated western European markets, though deal-flow is weak in several of them. Thomas Blott asks Richard Fielder, its chief executive, whether its balance is right.
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The Dutch government is moving aggressively to encourage pension fund involvement in infrastructure debt. But pension fund activity is still highest in equity. By Antony Collins.
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New Zealand's health minister, Tony Ryall, has asked the country's National Health Board and Canterbury District Health Board to consider a PPP structure for the procurement of upgrades to Christchurch and Burwood hospitals
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HICL, the UK-listed infrastructure fund, has paid £143.3 million for stakes in 26 PFI and PPP projects from two Barclays infrastructure funds
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Aecon Construction and Dufferin Construction-led AirLINX Transit Partners has closed on financing for the C$128.6 million ($125.4 million) Toronto Air Rail Link project in Ontario.
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Mexico’s SCT has officially awarded the 30-year Farac Michoacan concession to a consortium of Azvi, Pinfra, Infraestructura Institucional and Sociedad Michoacana de Constructores.
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The San Diego Association of Governments (SANDAG) has approved an up to $252 million internal loan to finance the purchase of the South Bay Expressway in California.
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The City of Greater Sudbury has received an up to C$11 million ($10.6 million) P3 Canada Fund grant for its planned C$44 million biosolids management facility concession in Ontario.
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Interhealth Canada expects to receive credit-approved term sheets from potential lenders to its Pola Lisickie hospital PPP early in 2012
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Italian contractor Astaldi has extended the maturity on its Eu325 million ($423 million) corporate loan facility from April 2013 to December 2016.
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France’s PPP market sailed through the last crisis unscathed, even strengthened, and 2011 has been its busiest year yet. A new crisis may require further structural changes. Tom Nelthorpe gathers public and private players from across the market in London.
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Earth Tech Skanska - a consortium comprising Skanska, Aecom (Earth Tech was acquired by Aecom) and Waste Recycling Group (WRG) - has been chosen as preferred bidder for the Bradford and Calderdale jointly procured 25-year waste PFI concession
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Plenary Health has reached financial close on the A$1 billion Victorian Comprehensive Cancer Centre PPP
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Eiffage has signed an agreement with DG Infra Yield to sell a stake in four PPP projects to the fund.
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A consortium comprising Urbaser and Balfour Beatty has been named preferred bidder for the £500 million (over the life of the concession) Gloucester residual waste project
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The US state of Georgia has canceled the procurement process for the I-75 West by Northwest corridor PPP project
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Bilfinger Berger Global Infrastructure (BBGI), a newly established, close-ended investment fund, has closed the placing for its £212 million ($327 million) flotation.
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A Meridiam-led consortium, Tieyhtio Valtatie 7 Oy, has reached financial close on the E18 Koskenkyla-Kotka motorway PPP
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Amber Infrastructure has signed a contract with the Scottish government for the formation of a third JESSICA fund, SPRUCE – Scottish Partnership for Regeneration of Urban Centres
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The City of St Petersburg and Vodokanal, the state-owned water company, is expected to delay the bidding deadline for the Neva Water PPP project to June 2012.
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Société d'Exploitation de l'Aéroport de Mayotte has closed the financing for the upgrading of Dzaoudzi airport
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Dutch sponsors BAM and Strukton have closed on deals to transfer PPP asset stakes to financial investors.
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Bilfinger Berger Global Infrastructure has published the prospectus for its proposed £212 million ($332 million) listing
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Mexico's Secretaria de Comunicaciones y Transportes (SCT) has received only one bid for the relaunched 417.5km Farac Michoacan
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Colombia’s new national infrastructure agency ANI plans to begin tendering real toll road concessions in 2012.
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The Virginia Department of Transportation has reached an agreement with Fluor and Transurban for the $940 million I-95 high-occupancy vehicle
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The Education minister for the Welsh National Assembly, Leighton Andrews, has announced £1.4 billion ($2.18 billion) of funding for the first wave of Wales’ largest ever school building programme
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Rijkwaterstaat, the Dutch procuring authority, has shortlisted three bidders for the N33 PPP concession.
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Macquarie and Skanska’s Elizabeth River Crossings has reached commercial close with the Virginia Department of Transportation on the $2.1 billion Midtown tunnel project.
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The European Investment Bank and the Syndicat Intercommunal des Transports en Commun de l'Agglomération Tourangelle have signed the Eu150 million ($202 million) financing for a first tramway in Tours
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Alberta Infrastructure has shortlisted three consortiums for its third design-build-finance-operate-maintain schools package concession.
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Three consortia have entered bids for the $600 million Uganda Police Public-Private partnership serviced housing and accommodation project
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Inspiral Oldham Consortium - comprising Regenter, Wates Living Space and Great Places Housing Group - has reached financial close on the £71 million ($110 million) Gateways to Oldham Housing and Regeneration PFI.
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The Mumbai Metropolitan Region Development Authority (MMRDA) has issued the request for qualifications for the long-delayed Rs88 billion ($1.76 billion) Mumbai Trans Harbour Link PPP
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November 2011
Shropshire Community Health NHS Trust has named Amber Infrastructure preferred bidder on a contract to design, build, finance and maintain the £27 million ($42 million) Ludlow heath centre
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Metropolitan Washington Airports Authority plans to release a request for information for the $2.8 billion Dulles Metrorail phase two
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ICA closed the Ps9.7 billion ($709 million) financing for the Sarre and Papagos prison PPPs in Mexico on 28 September. The deal breaks down into a Ps7.1 billion non-recourse certificados bursatiles bond issue and Ps2.6 billion in equity. It is the first entirely commercially financed greenfi...
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The next round of bids on the Marseilles L2 road PPP is due on 4 January
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An Impregilo-led consortium and its advisers are meeting in Rome tomorrow (30 November) to negotiate a term sheet for the financing of the Eu3.88 billion ($5.17 billion) Messina Straits
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Turkish construction company 7 Piramit has signed a 14-year concession to build 11 kindergartens
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The UK's Chancellor of the Exchequer, George Osborne, has signed of a memorandum of understanding with the National Association of Pension Funds
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Infrastructure Ontario has only three proposed long-term design-build-finance-maintain equity concessions in its pipeline through the end of 2014
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PPP Canada has rejected an application for a C$99 million ($95.6 million) P3 Canada Fund grant for the city of Calgary’s C$400 million recreation centre
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The Toronto Port Authority has selected Forum Infrastructure Partners as preferred bidder for its Billy Bishop airport pedestrian tunnel
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Bank of Ireland has agreed the sale of a Eu590 million ($788 million) portfolio of North American and European infrastructure loans to SMBC for Eu490 million
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Bouygues has been appointed preferred bidder for the Eu650 million ($869 million) Paris courthouse PPP (also known as Tribunal de Grande Instance de Paris).
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Canadian institutional investors looking for higher yields are driving the boom in publicly-rated PPP infrastructure bonds. Would the market survive a substantial default? Edward Russell reports.
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Tamra Sarang Uiryowon has raised a KRW44.7 billion ($38 million) 21.5 year loan via sole mandated lead arranger Korea Development Bank for the Seogwipo Medical Center project in Korea
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The Flemish Government has appointed the Cordeel-Hoeselt-Temse consortium as preferred bidder for a Eu9 million ($12 million) sports-hall PPP project located in Heist-op-den-Berg
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BC Hydro and the Swan Lake First Nation are each planning to tender energy project concessions early in 2012
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The city of Abbotsford has rejected the C$291 million ($283 million) Stave Lake water project in British Columbia.
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Corsan-Corviam, a consortium comprising Corsan, Copcisa and Detea, has won the tender for the Andalucia courts PPP concession
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Hochtief PPP Solutions and Laing O'Rourke are starting on the second phase of the Salford BSF programme
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The BAFO deadline for the remaining three bidding groups on the Eu90 million ($118.3 million) Livan 1 tram PPP in the Belgian city of Antwerp has been pushed back from early this month to the end of February 2012
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Partnerships British Columbia and BC Hydro have released a request for information for the C$1.35 billion John Hart generating station replacement project.
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Moody’s has raised concerns that six Australian PPP deals that it rates are exposed to refinancing risk
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The John Laing Infrastructure Fund has paid £18.2 million ($29 million) for stakes in three operational PFI/PPP assets
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New York State Department of Transportation and New York State Thruway Administration has released a request for proposals for a financial adviser for the $5.2 billion Tappan Zee bridge
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Chile’s Ministry of Public Works will release bidding documents to prequalified bidders for the UF4.76 million ($206.4 million) Route 43 La Serena to Ovalle real toll
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The UK chancellor of the exchequer George Osborne has launched a review of the use of PFI contracts in funding infrastructure and healthcare projects.
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Shareholders in UK-listed GCP Infrastructure Investments have approved an increase in its share capital
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The Lagos Airport Development Committee has received responses from 33 national and international firms
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Lylopolis, a consortium comprising Barclays European Infrastructure Project, Pertuy Construction and Exprimm, has closed the financing for two high schools
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The International Finance Corporation (IFC) is in line to provide financing for Nigeria's potential PPP concession for a second Niger River bridge
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Partnerships British Columbia has released a request for proposals to three shortlisted groups for the C$1.4 billion ($1.37 billion) Evergreen
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Infrastructure Ontario and the Ontario Ministry of Transportation received three proposals for the C$1 billion ($983.2 million) 407 East toll road concession
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HICL Infrastructure has acquired a 75% stake in the Sir Robert Hadfield Wing PFI project in Sheffield
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Brendan Howlin, Ireland’s Minister for Public Expenditure and Reform has said that major transport and infrastructure projects will be deferred indefinitely
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The Lithuanian Ministry of Economy is looking for industry feedback on whether to procure the Eu146 million ($199 million) construction of four prisons - 4000 inmates in total - as one or more PPP concessions
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ICA plans to raise up to Ps1.4 billion ($102.9 million) in subordinated debt for its Sarre and Papagos detention centre concessions in Mexico
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The municipality of Gorce Petrov in Macedonia has issued an invitation to tender for a Eu12.65 million ($17.1 million) administrative building and underground parking project PPP scheme
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The A9 is only the second of the latest slate of A-models to reach close, and the first to be backed by availability payments for the life of the concession. The European Investment Bank provided half of the debt for the A9’s predecessor, the A8 II, but commercial banks provided all of ...
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Transaction volumes in US PPP continue to disappoint.
Cheap debt, plentiful equity and state budget problems have not yet combined to produce a solid deal pipeline. Six US PPP market participants sat down to discuss the state of the sector and how to make it grow.
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Estonia's State Road Administration has proposed four-laning a 45km segment of the existing Tallinn-Tartu road - between Kose and Mao
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The US Air Force has selected Balfour Beatty Communities as preferred bidder for its latest residential housing concession
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Future Prisons, the consortium comprising Confinimmo, Cordeel, SNC Lavalin and Willemen, has reached close on the financing for the 25-year DBFM Mons prison PPP, the fourth and final out of the first wave of prisons programmes to be tendered by the Belgian Building Agency.
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Plenary Health consortium has been officially appointed preferred bidder for the A$1 billion Victoria Comprehensive Cancer Centre PPP in Melbourne
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Infrastrutture Lombarde is expected to formally issue the request for proposals documentation for the Eu171 million ($246.8 million) Monza hospital PPP in mid-November
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The Texas Department of Transportation has released a request for information for the about $940.7 million SH 183 managed lanes project.
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The Central Texas Regional Mobility Authority has received 22 expressions of interest
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The Bell Canada-led Bell Maritime Provinces Radio Network and Infranetcomm consortiums have submitted proposals for the Maritime Radio Communications concession
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ACS Infrastructure-led Neon Mobility Group has submitted an unsolicited proposal for project Neon
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A TAV Airports-led consortium has signed the 25-year concession contract with Saudi Arabia’s General Authority of Civil Aviation (GACA)
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Hochtief Solutions has closed Eu67.2 million ($92 million) in debt financing for the refurbishment of several public buildings in Braunschweig
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The DIF Infrastructure II fund is buying 80% of Dutch contractor Strukton's equity and subordinated debt commitments to six Dutch PPP projects.
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Henner Mahlstedt and Heiner Helbig have left Hochtief Solutions following ACS' assumption of control of parent company Hochtief
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Sacyr Concesiones closed Eu276 million ($384.3 million) equivalent in Chilean peso debt for two toll road concessions
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Macquarie and Skanska will not close the financing for Elizabeth River Crossings’ $1.9 billion Midtown Tunnel project in Virginia