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February 2012
Britain’s next slate of rail projects will require billions of pounds of investment. Government now needs to settle on a viable funding and financing mechanism. By Antony Collins.
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The losing bidder for the Milan Metro Line 4 PPP project in Italy, the Condotte, Pizzarotti and RATP consortium, is launching a second appeal against the award of the Milan Metro Line 4
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Chris Heathcote has been named global head of project finance debt at Lloyds Bank
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The two consortiums that are preferred bidders on the R4 Ghent road PPP are aiming to reach close on February 7
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The Belfi-led Aeropuerto Araucania consortium has closed a UF2.535 million ($133 million) debt financing with Corpbanca
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Finland’s E18 Koskenkylä–Kotka drew on the experience of earlier PPP roads in the country to become the largest and fastest financing in the sector to date.
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Tramlink Nottingham won the NET2 concession on pricing. But the cost of debt might have been cheaper.
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Colombian power deals continue to attract lender support, but the country’s $20 billion infrastructure investment plan continues to languish.
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A fund managed by UK-based private equity firm 3i has agreed to pay $61 million for 49% of a holding company for four toll road projects developed by Supreme Infrastructure India
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The Waterloo Region has selected a 30-year design-build-finance-operate-maintain procurement structure for its C$818 million ($819.6 million) light rail stage one project in Ontario.
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January 2012
The Kentucky Transportation Cabinet has released a notice of intent seeking a design-build contractor for its half of the $2.6 billion Ohio River Bridges project
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The Maryland Transportation Authority has awarded Areas USA its 35-year travel plazas concession.
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United Airlines will issue about $686 million in terminal improvement bonds for the $974 million George Bush Intercontinental Airport terminal B redevelopment project in Texas.
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A Mexican appeals court has ordered the cancellation of the 32-year Lazaro Cardenas container terminal phase two concession in Michoacán state.
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Texas Department of Transportation has released a request for qualifications for the $4.7 billion I-35E expansion project.
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Jaipur Metro Rail Corporation has shortlisted four bidders for the Jaipur Metro Rail PPP project.
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The Virginia Department of Transportation has released a request for information for a transportation operations centre concession
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Brazilian toll road operator Ecorodovias has offered the lowest toll rate on the concession of the BR-101 toll road.
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Invepar subsidiary Linha Amarela has closed a R180 million ($102.4 million) unsecured bond issue
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The city of Sacramento has released a request for qualifications for an up to 50-year lease of its downtown parking assets
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The North Carolina Turnpike Authority plans to reach financial close and begin construction of the $850 million Mid-Currituck bridge project by the end of the year
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The lead banks on the LGV Tours-Bordeaux high-speed rail PPP are likely to launch a formal syndication
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Lawsuits from Colorado's town of Superior and city of Golden have delayed commercial and financial close on Isolux Corsan’s $212 million Jefferson Parkway
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Dana Levenson has been named chief financial officer at the Massachusetts Department of Transportation
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The Missouri Department of Transportation plans to convert 314km of I-70 through the state into a toll road under a long-term concession structure
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The Indiana Finance Authority is leaning towards using an availability-based concession for its half of the $2.6 billion Ohio River bridges project
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Brazil's Agencia Nacional de Transporte Terrestre (ANTT) has received six proposals for the R$2.15 billion ($1.2 billion) BR-101
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APM Terminals Callao will invest a minimum of $307 million in the first two phases of its 30-year Mulle Norte Terminal modernisation concession.
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MEDDTL has named Vinci Concessions preferred bidder for the A355
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Irish transport minister Leo Varadkar has approved funding for the Eu180 million ($228.1 million) N11 Arklow-Rathnew road
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Autopista de Costa Calida (AUCOSTA), the project company the Cartagena-Vera toll road, is trying to negotiate a restructuring
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Tramlink Nottingham will soon start syndicating £421.24 million ($645 million) of senior facilities making up the debt package for the £570 million NET2 scheme
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Spanish concession company Autovia de los Vin~edos made its December debt payment without having to draw on its debt service reserve
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Louisiana state treasurer John Kennedy has gone public with a proposal for a toll road PPP to finish development of the Interstate 49 South road expansion project.
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Abhijeet Toll Road (Karnataka) has signed a Rs1.3 billion ($25.2 million) 14.5 year loan via sole bookrunner and mandated lead arranger SBI Capital for its Chikkanayakanahalli-Tiptur-Hassan toll road concession in Karnataka.
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Reseau Ferre de France (RFF) has formally named Bouygues preferred bidder on the Eu1.6 billion ($2 billion) Nimes-Montpellier high-speed rail PPP
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Deal flow in Turkey is booming, but so is bank cost of funding and project debt margins. Demand for liquidity is also beginning to outstrip supply. The Turkish market is the place to lend, but it is not without problems. By Sean Keating.
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The Lord Abbett Fund has sued Citi over a secondary market purchase of bonds issued by the Las Vegas Monorail Corportation
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UK airport operator BAA has priced a Sfr400 million ($420 million) issue of five-year bonds
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Greece's Hellenic Republic Asset Development Fund is understood to be considering using asset-backed bond issues to monetise state assets
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BAM PPP/Vinci, Bilfinger Berger, Hochtief and Strabag are likely to bid for the A7 road concession
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The four prequalified bidders on the Marseilles L2 road PPP - Vinci, Bouygues/Egis/Spie Batignolles/Meridiam, Eiffage and Fayat - have submitted the latest round of bids
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SCL Terminal Aereo Santiago is planning a $200 million equivalent Chilean peso-denominated refinancing of the Santiago International Airport concession
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Reseau Ferre de France (RFF) will formally name the preferred bidder for the Eu1.6 billion ($2 billion) Nimes-Montpellier high-speed rail PPP
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The sponsors of the R120 billion Western High Speed Diameter toll road have reached commercial close with the city of St. Petersburg and signed a preliminary term sheet with lenders on the R60 billion ($4 billion) debt financing for the project.
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The Aeropuerto Araucania consortium is nearing close on a $100 million Chilean peso-denominated debt financing of the Temuco Airport concession.
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Jakarta Tollroad Development (JTD) consortium - comprising state-owned and private sector companies, such as PT Hutama Karya, PT Pembangunan Perumahan Tbk, PT Wijaya Karya Tbk, PT Adhi Karya Tbk, and PT Citra Marga Nusaphala Persada Tbk (CMNP) - has emerged as the only pre-qualified bidder for Jakarta's IDR40.02 trillion ($4.368 billion) six toll road programme.
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The Port Authority of New York and New Jersey has released a request for information for a $3.6 billion replacement of the central terminal building at LaGuardia Airport
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Seoul Northern Highway has closed a W1.5 trillion ($129 million) project financing with sole bookrunner and mandated lead arranger Korea Development Bank
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The ALBEA consortium, which comprises NGE, Fayat, TIIC and OFI Infravia, has closed financing for the A150 toll road project in Normandy, France
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The states of Indiana and Kentucky have agreed to split the procurement and cost of the $2.6 billion Ohio River bridges project.
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The $425 million debt facility backing Limak's $750 million 36-year brownfield Iskenderun port concession closed on 23 December 2011
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The regional government of Andalucia's public works agency has awarded a consortium of Meridiam, Acciona, Cintra (Ferrovial), Detea, Montealto and Felipe Castellano the PPP concession for the section of the Almanzora highway
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Sacyr Concesiones has sold 49% stakes in two highway concessions in Chile
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The Lazaro Cardenas port authority has awarded a 32-year concession to design, build, finance, operate and maintain a new deepwater container terminal to APM Terminals
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Via-Invest, the joint venture between Participatie Maatschappij Vlaanderen (51%) and the Agency for Roads and Traffic and the Department of Transport and Public Works (49%), is expected to confirm the preferred bidder for the financing of the R4 Ghent within the next seven days.