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February 2011
Infrastructure Quebec has received seven statements of qualification for the C$119 million ($122 million) Agence Metropolitaine de Transport
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A club of seven commercial banks plus Cassa Depositi e Presiti and SACE have signed a Eu570.5 million ($788.9 million) financing for Strada dei Parchi SpA, Italy’s first project financing of a road concession.
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Lorry-Rail has closed a Eu66 million ($90.7 million) lease financing of a fleet of 150 train wagons.
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Gatwick Funding issued its £600 million ($968 million) debut bond on the afternoon of February 23, printing £300 million of 15 and 30 year paper with respective coupons of 6.125% and 6.5%.
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The Grana y Montero and Ferrovias-led Tren Lima, Linea 1 consortium won the $320 million Lima Callao Mass Transport Electric System train concession in Peru
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The German domestic infrastructure market is in flux as the government re-evaluates its transportation procurement process. Its landesbanks are struggling to stay relevant, while foreign lenders and sponsors circle the small number of tenders. By Catherine McGuirk
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The Atlandes consortium closed on the Eu1.1 billion ($1.5 billion) A63 concession in south-west France on 18 January 2011.
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Lead sponsor Daewoo Engineering & Construction reached financial close on the W1.652 trillion ($1.47 billion) rail project between Sosa and Wonsi, the biggest project in Korea to date to be implemented under a build-transfer-lease (BTL) scheme, on 27 December 2010
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The California Superior Court has rejected a lawsuit that claimed that the availability payment mechanism for the $594 million Presidio Parkway phase two concession was illegal
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The German Ministry of Transport has shortlisted a Vinci/BAM consortium and Max Boegl for the A9 road PPP
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CCR has launched a R$150 million ($90.1 million) subordinate bond issue for its ViaOeste toll road concessionaire in Brazil.
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IRB Infrastructure has closed financing on the Tumkur Chitradurga Tollway project, with an Rs8.31 billion ($184 million) debt package
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UK Rosco Eversholt’s £400 million ($648 million) 17.3 year average life senior secured bond - designed to refinance its four year acquisition debt - launched earlier in the week with guidance of 230bp-235bp over Gilts.
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BNP Paribas has closed a $34.5 million loan to finance construction of the Autopista del Coral
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The Global Infrastructure Partners-led owners of Gatwick Airport have launched a roughly £1.7 billion bank and bond refinancing and dividend financing.
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Long-term parking metre leases in Los Angeles and Hartford are moving in opposite directions as the US remains split on the deals.
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The Romanian government has confirmed its intention to re-tender the A3 Motorway PPP this year.
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Panama’s Ministry of Public Works (MOP) has received seven technical bids for its $1.5 billion second road works package in Panama City.
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The South Bavarian procurement review board has rejected a complaint contesting the A8 II Ulm-Augsburg award.
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US president Barack Obama’s 2012 budget proposal brings good news for transportation and infrastructure sponsors, but puts forward big cuts to the Department of Energy’s loan guarantee programmes.
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Eiffage is set to hold a Eu1 billion ($1.35 billion) funding competition for the commercial bank debt requirement
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A parliamentary committee has criticised the way the UK Highways Agency handled the design and procurement of the M25 widening programme.
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Sacyr has closed financing on the AP-46 Alto de las Pedrizas toll road. Societe Generale, Santander, WestLB and ICO arranged the Eu174.5 million ($235 million) debt package.
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Shapoorji Pallonji has closed financing on the Rs27.8 billion ($485.6 million) Jammu Udhampur Highway PPP
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BSCPL Infrastructure and C&C Constructions have closed financing on the Rs6.56 billion ($143 million) second phase of the North Bihar Highway PPP.
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OHL has received a R331.3 million ($198.8 million) long-term loan from BNDES for its 412.7km Autopista Planalto Sul toll road concession in Brazil.
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The North Carolina Turnpike Authority has chosen a preferred route for the $660 million Mid-Currituck Bridge project.
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The Italian export credit agency, Sace, will cover a portion of the Eu600 million ($781.6 million) project financing for Toto Costruzioni’s Strada dei Parchi toll road.
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The Florida Department of Transportation (FDOT) is evaluating procuring Jacksonville’s First Coast Outer Beltway as a significantly shorter 24.1km toll road
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The Municipality of Milan is fielding offers for its 4.75% stake in the Autostrada Brescia-Verona-Vicenza-Padova project company, also known as Serenissima.
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A complaint filed by the Bilfinger Berger and John Laing consortium has further delayed the selection of a preferred bidder for the A8 II
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The Philippines' government has pushed back bidding for two proposed PPP concessions.
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US vice-president Joe Biden has proposed that the federal government provide $53 billion in dedicated funding for high-speed rail
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The Brisa/Soares da Costa-led Poceirao-Caia Eu1.55 billion ($2.13 billion) high speed rail project in Portugal has reached financial close.
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Award of the Milan Metro Line 4 PPP concession is likely to creep into March as the complexity of the bidders’ technical proposals is making their assessment take longer than expected.
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The UK's Departments for Transport and Defence have cancelled the PFI procurement for the search and rescue helicopter (SAR-H) programme
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The Jefferson Parkway Public Highway Authority has announced that it will accept direct proposals for the 16km Jefferson Parkway real toll concession in Colorado
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The Impregilo-led consortium has completed the final design of the much maligned Messina Straits Bridge project linking mainland Italy with Sicily.
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Metro 5 - a consortium comprising Astaldi, Ansaldobreda, Ansaldo Trasporti Sistemi Ferroviari, ATM - Azienda di Trasporti Milanese, Alstom Ferroviaria and Torno Internazionale - has been awarded the 30 year concession for the Eu872 million ($1.189 billion) extension of Line 5 of the Milan metro.
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FIGG Group, Lane Construction and American Infrastructure MLP Fund are providing equity financing for the $100 million South Norfolk Jordan Bridge replacement project in Virginia
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The Karachi Port Trust has asked the International Finance Corporation for a $70 million A loan to fund its $86.4 million repair of five damaged berths.
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Oscar de Buen, the subsecretary of state for infrastructure at Mexico's transport and communications ministry, has resigned
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The Virginia Department of Transportation (VDOT) started to revive its stalled I-95/395 high-occupancy toll lanes project
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The World Bank says it will not support the financing for the Nairobi Toll Road project without an overhaul of lead sponsor Strabag's compliance processes.
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Hochtief and Meridiam Infrastructure-led Golden Link Partners will hold a funding competition for the financing of the roughly $594 million Presidio Parkway
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Financial close for the Brisa/Soares da Costa-led Poceirao-Caia Eu1.55 billion ($2.13 billion) high speed rail project in Portugal is scheduled for Monday 7 February.
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Fitch Ratings has withdrawn its BBB+/F2 rating on the letters of credit backing Transurban’s Capital Beltway Funding Corporation’s $589 million in senior revenue bonds.
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New York City Transit has released a request for interest for a private partner to install platform doors at its 468 subway stations.
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The Abu Dhabi Department of Transport (ADDOT) is still in exclusive talks with the Strabag-led consortium for the $2.65 billion Mafraq-Ghweifat road PPP however
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The Brazilian bond market is now open for road issuers looking for long-dated no-strings project financing. But are institutions’ appetites enough to meet governments’ requirements? John Rumsey reports from Sao Paulo.
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After a fallow period, Chile’s MOP is bringing forward a second $15 billion wave of concessions. Can banks respond to its ambition, and institutional lenders fill any gaps? Edward Russell reports from Santiago.
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The Port Authority of New York and New Jersey’s (PANYNJ) has closed $796.28 million in special project series eight bonds for the expansion of Delta Airlines’ Terminal 4 at John F Kennedy International Airport (JFK). With the financing the airline and airport have finally addr...
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Reliance Infrastructure has closed financing on the KM Toll Road, in the form of Rs7.89 billion ($171 million) of debt.
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Spain’s economic difficulties are resulting in an overhaul of the country’s PPP market and renewed competition from foreign lenders. While Spanish lenders and sponsors demand regulatory reform, new investor appetite has emerged, despite the very real sovereign risks. By Catherine McGuirk.
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The Windsor-Essex Parkway was one of the most sought after PPP deals in Ontario in 2010. Sponsors and banks bent over backwards to bid on the C$1.2 billion ($1.2 billion) deal – the province’s first availability-based road concession to date. An ACS, Acciona and Fluor-led Windsor E...
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ACS has closed on a $155 million loan for its 55km Route 5 from Puerto Montt to Pargua concession in Chile.
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Ashoka Buildcon has closed financing on the Rs10.08 billion ($220 million) Sambalpur Baragarh Tollways project.