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The UK’s NHS administration regime faces its first test. What do PFI hospitals’ sponsors and lenders need to know? By James Larmour, counsel, Hogan Lovells.
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The UK’s OFTO programme has produced a stream of popular, low-priced financings. But changes to the regime will make future financings tougher.
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The AdR bank refinancing is designed to alleviate rating agency pressure and give its shareholders time to close a bond refinancing. But tariff negotiations are dragging on.
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Singapore’s new state-backed project finance lender is set to behave like a cross between an export credit agency and a bank. Its funding model is even more unusual.
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Structural changes are afoot in both the Canadian and US power finance markets. To attract more participants, and newer types of provider, debt structures will need to get more conservative.
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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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At a time when banks are looking to de-leverage their balance sheets, the traditional avenues open for them to shed project finance debt – during syndications and through collateralised debt obligations – are closed. True, some syndication has taken place but only on a limited basis and with the arr...
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The Western High Speed Diameter (WHSD) road concession promises to be the first real test of domestic lender appetite for local currency project finance debt in Russia. VTB Capital and Gazprombank, as equity providers, won the concession, to build the road’s central section an...
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Shell’s sales of onshore assets have sparked a boom in lending from Nigerian lenders to local independents. But investment in, and lending to, new developments is still waiting on legislative action. By Sarah Rundell
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The financing for the Tours-Bordeaux high-speed rail PPP, has proved a real test to France’s maturing PPP market
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Italy’s solar industry is in limbo after its committee of the regions refused to consent to the ministry for economic development’s draft of Italy’s New Energy Law 4 (Conto Energia 4).
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Of all the export credit agencies only US Ex-Im and Germany’s Hermes provide commercial banks with a readily available means of using their agency-covered loans as assets in covered bond programmes.
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Deals in Colombia look set to come from everywhere but the national concessions agency, INCO. Projects from the capital district of Bogota, the national transport ministry and a number of sponsors are expected to dominate the market during the near term.
Maria Ines Agudelo Valencia, direct...
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The Italian Ministry of Economic Development has given its informal approval to proposals on changes to the Italian photovoltaic incentive regime submitted by the trade association representing heavy industry in Italy, Confindustria
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The period for industry submissions on the Consultation on Electricity Market Reform closed on 10 March. The consultation, run by the UK’s Department of Energy and Climate Change (DECC) is a primer to legislation that will be brought in late 2011 to retire the Renewable Obligation Certificates (ROCs) incentive regime.
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Developer Advanced Power is in the process of selecting counterparties for the EPC, feedstock and offtake contracts for its 1.2GW Eemsmond CCGT project in the Netherlands.
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Spanish infrastructure operator GlobalVia is looking for roughly Eu500 million ($690 million) in financial equity to pursue road and rail bids in anticipation of an eventual initial public offering.
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Borealis and Ontario Teachers Pension Plan won the 30-year HS1 own and operate concession, for the 68 miles of track running from St Pancras International to the Channel Tunnel, on 5 November, with a £2.1 billion ($3.35 billion) bid that was £600 million more than predicted.
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The feed-in tariffs for the next three years are in place and the uncertainty surrounding local permitting law is almost settled.
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The future of US brownfield parking concessions is in limbo. Deals in Pittsburgh and Indianapolis, which were set to signal the revival of the market after a two-year hiatus, have hit obstacles, leaving everyone, from sponsors to lenders, awaiting their resolution.
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Is Gide Loyrette Nouel’s exit from the GCC symptomatic of too many law firms chasing too little project business?
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BP’s response to the Gulf of Mexico attracted much negative public attention, and its likely bill for clean-up costs left it looking financially vulnerable
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Hochschild mining has sued its joint venture partner in, and the project company for, the San Jose mine to force them to sign documentation for a loan Hochschild provided to the project over three years ago.
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Despite delays caused by environmental and land rights issues, Vedanta Aluminium and its financial adviser SBI Capital Markets are hoping to close the Rs192 billion ($4.1 billion) financing of Vedanta's integrated aluminium project, at its Lanjigarh and Jharsuguda project sites in Orissa, in April.
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The recent financial close of Orasqualia's New Cairo wastewater treatment PPP is seen as a strong vote of confidence in the pipeline of projects emanating from the Egyptian Ministry of Finance (MoF).
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Lenders to the South Bay Expressway have been drawn into the litigation between the project company and its contractor, as debtholders move closer to taking control of the road. South Bay, or SBX, formerly known as SR-125, was the first greenfield road PPP to close in the US, and the first private r...
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Macquarie's debut Mexican infrastructure fund does not have to close until mid-2011, but is looking to participate in several bids before the end of the year. Macquarie reached a first close on the Ps5.2 billion ($408 million) Macquarie Mexican Infrastructure Fund on 14 January after garnering Ps3.4...
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Ofgem's tender for the Offshore Transmission Owner (OFTO) schemes for the ownership of nine offshore wind transmission lines under 20-year contracts is to open bids from a shortlist of six – Balfour Beatty Capital, DONG, Green Energy Transmission (Equitix/AMP Capital Investors), Macquarie Capital Gr...
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Although a slow burn, momentum is growing in South Africa's PPP sector. A dedicated Treasury Unit and standardised procedures has led to the build up of a substantial pipeline that is starting to deliver accommodation projects, and will soon deliver hospitals, schools and possibly even prisons.
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Indian infrastructure group, GMR, plans to spin off its domestic airports business – which includes equity investments in Delhi and Hyderabad airports – into a separate standalone entity. Currently, GMR Indian airport business is rolled together with its investments in power and roads into the Bomba...