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February 2012
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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ESB International has approached lenders about participating in a financing for the 860MW Carrington combined cycle gas-fired plant.
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Chris Heathcote has been named global head of project finance debt at Lloyds Bank
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Bank meetings will be held next week to market the leveraged loans backing Apax’s buy-out of Orange Switzerland
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China Everbright Environmental Energy has raised a $100 million five-year facility for waste-to-energy projects in the Yangtze River Delta.
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The Belgian Building Agency has issued a tender for a contract to design, build, finance and maintain a new prison in the Haran suburb of Brussels
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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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The Inter-American Development Bank has closed a $300 million loan for the second Norte Grande road infrastructure improvement programme
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LSP Energy failed to make a debt payment due on 15 January on its $214 million in debt,
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The New Zealand government is set to mandate a financial adviser by the end of the month to help evaluate whether a public-private partnership would be the most appropriate method for rebuilding Christchurch hospital
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Competition and technical problems are likely to put pressure on the £135 million ($213 million) bond financing for the Moyle Interconnector
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EPV Energy and Pohjolan Voima have closed an Eu18 million loan with the Nordic Investment Bank for to help fund construction of a biomass gasification plant
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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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First Quantum Minerals has signed a $1 billion revolver for its Kansanshi mine in Zambia
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Chinese oil and gas producer Sinopec will increase its stake in the Australia Pacific LNG (APLNG) project to 25% from 15%.
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Brazil's national oil company, Petrobras, has closed a $7 billion corporate bond offering, the largest corporate bond issue ever in Brazil and second-largest ever in Latin America.
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Indonesian mining group Aneka Tambang (Antam) has signed a mandate letter with Bank Mandiri, Bank Rakyat, Standard Chartered and SMBC for a $650 million financing of its East Halmahera ferronickel project.
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Global Infrastructure Partners is looking to raise $300 million from a sale of partnership units in Chesapeake Midstream Partners.
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BNP Paribas has arranged a ¥7.1 billion ($91.85 million) loan for the 78MW Nam Na3 hydropower power station being built by Hung Hai Construction Company in Lai Chau province, Vietnam.
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Antofagasta Minerals has bought a 30% equity stake in the 115MW El Arrayan wind project from Pattern Energy for $4.5 million in Chile.
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Caixa Economica Federal-managed fund FGTS expects to close a R95.5 million ($54.2 million) senior secured bond issue for Brazilian utility Araucaria Saneamento by the middle of February.
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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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Moody’s Investors Service will undertake a reassessment of project finance ratings
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The UK Treasury has approved £129 million ($205 million) in PFI credits for the Avon & Somerset Police Authority and Constabulary PFI
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The first stage of the 4GW Markbygden wind farm has won planning permission but faces delays to its financing while an appeals process runs its course.
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January 2012
The Puerto Rico PPP Authority and Puerto Rico Juvenile Institutions Administration have unveiled plans for a long-term design-build-finance-maintain juvenile detention centre concession
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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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Cheniere Energy has mandated Societe Generale as financial adviser for the 18 million tonnes per year Sabine Pass liquefaction project
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China Huadian has closed a $330.6 million refinancing for the Asahan 1 hydroelectric plant in Indonesia.
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Credit Suisse expects to price and close a $600 million bond refinancing for Abengoa and GE Energy Financial Services' 300MW Nuevo Pemex
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Thailand's Electricity Generating Public Company has bought the 6MW SPP4 photovoltaic solar tracker project from MEMC
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Abengoa has closed a $344 million limited recourse debt refinancing for the 916km Transmission Sur
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Brazilian telecoms operator Telemar has closed an export financing with KfW and Nordea
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Canadian power project developers are turning to private placements, pension fund debt and mezzanine financing to take up the slack as European project finance banks rein in lending.
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The Maryland Transportation Authority has awarded Areas USA its 35-year travel plazas concession.
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Canadian fund manager Fengate Capital has closed two new infrastructure investment funds.
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Wells Fargo will make a $100 million tax equity investment in distributed photovoltaic solar projects developed by Enfinity America
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Bilgin Enerji has signed a Eu39.125 million ($30 million) 10-year buyer credit loan with BayernLB to help build its Zeytineli wind farm
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Intex has signed a memorandum of understanding with MMC8 – a former division of China’s largest nickel producer Jinchuan Group – which will result in the latter having the first right to acquire 90% of the Mindoro Nickel project in the Philippines for $296 million
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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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Orient Green Power, via its subsidiary Beta Wind Farm, has signed a $134 million term multi-currency term loan backing the commissioning of 155.6MW of wind power in Tamil Nadu
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ANZ Infrastructure Services signed a A$165.6 million ($169 million) 3.25-year acquisition refinancing for its 91 MW Wattle Point wind farm
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HSBC has signed a $464 million 12-year buyer credit on behalf of Pakistan state utility firm Central Power Generation Company to purchase a 747MW gas turbine combined power plant at Guddu in the Sindh province of Pakistan.
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EDP Renewables North America will sell a 21.35% stake in 25 US wind projects to China Three Gorges
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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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The Scottish Futures Trust and Scotland's West Territory hub programme board have awarded the WellSpring Partnership consortium the Western hub
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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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Invenergy has agreed to sell its 81MW Bishop Hill II wind farm in Illinois to MidAmerican Energy.
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Araucaria Saneamento has launched a R95.5 million ($54.2 million) senior secured bond issue
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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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US-listed developer SPI Solar has bought the development rights to a 2MW solar photovoltaic project in Evros
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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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Centre hospitalier universitaire Sainte-Justine and Infrastructure Quebec have received four technical proposals
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Royal Nickel Corporation has mandated Rothschild as financial adviser on the development of the Dumont nickel mine in Quebec
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Indian mobile infrastructure operator Viom has closed a $30 million loan with DEG
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State-owned Tanzania Electricity Supply Co (Taneco) is in talks with a Citi-led group of banks for a TZS408 billion ($257 million) loan to fund emergency power projects contracted last year after drought caused a 264MW deficit in hydro generation.
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The Tennessee Valley Authority has closed a $1 billion leveraged lease financing for its 880MW John Sevier combined-cycle gas-fired plant
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Jay Worenklein has joined Akin Gump Strauss Hauer & Feld in New York as partner and co-head of its global project finance practice
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The John Laing Infrastructure Fund has paid £30.5 million to buy stakes in three social housing projects from United House Group.
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Brazilian utility Energisa has closed $200 million in perpetual bonds to help fund a proposed R1.6 billion ($900 million) investment programme
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Korea Electric Power Corp (Kepco) has announced plans to build and finance a 250MW $582 million coal-fired power plant in Senegal
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Enbridge has closed a C$500 million preferred share issue to fund capital projects, refinance existing debt, and for general corporate purposes.
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The North American Development Bank has approved a $13.5 million loan for the construction of a 6.1MW solar photovoltaic plant.
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Edison Mission Energy has mandated three banks to arrange $113 million in debt for the 80MW Broken Bow and 40MW Crofton Bluffs
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Starwood Energy has bought a 40% equity stake in the 100MW Gainesville biomass project from Tyr Energy
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BP Wind Energy and Sempra US Gas & Power have agreed to jointly develop two wind plants in Kansas and Pennsylvania.
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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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The board of Ivanhoe Mines is set to vote on an additional bridge loan of $1.8 billion to fund development of the Oyu Tolgoi
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Norwegian developer Scatec has sold a 9MW Italian solar photovoltaic portfolio to a fund managed by UK-listed asset manager Impax Asset Management
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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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A number of advisers have been appointed for the potential Jordan LNG project at Aqaba.
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Nevada Geothermal Power has appointed Canaccord Genuity as financial adviser on the restructuring of its mezzanine debt and recapitalisation
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Northumbrian Water has closed a £360 million 30-year bond
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The developers of the Eu450 million ($575 million) Noordoostpolder wind farm in the Netherlands have approached the European Investment Bank
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MEDDTL has named Vinci Concessions preferred bidder for the A355
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Emirates Steel Industries has mandated BNP Paribas as financial adviser on a $800 million third phase expansion
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Saudi Aramco has signed a formal joint venture agreement with Sinopec for the development of the $10 billion Yanbu refinery
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AES Wind Generation has closed a £30 million ($46 million) financing for its 20.5MW Sixpenny Wood wind farm in the East Riding of Yorkshire.
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LS Power is out to the debt markets for around $400 million for its $550 million 127MW Arlington Valley Solar Energy II (AVSE II) PV project in Arizona.
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Gatwick Funding has closed a £600 million ($920 million) bond issue, the second under its whole business securitisation programme.
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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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Finnprotein and Renaissance Partners have signed a Eu100 million ($126.7 million) financing
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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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Vinci, GDF Suez and a subsidiary of Caisse des Depots et Consignations, have submitted a bid as a joint venture for four offshore wind farms
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Standard Bank has applied to the Multilateral Investment Guarantee Agency for $106.8 million in 15-year political risk insurance
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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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Austrian export credit agency OeKB has underwritten a Eu127.8 million ($163.389 million) UniCredit loan to RusHydro.
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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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Portugal's Ministry of Finance has issued a tender to hire audit and consulting advisers to help it estimate the state's primary and contingent liabilities under the country's PPP programme
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Indonesian coal miner Harum Energy has raised a $270 million three-year revolving facility on a club basis through mandated lead arrangers ANZ Panin Bank, Bank of Tokyo-Mitsubishi UFJ, DBS, OCBC, and United Overseas Bank.
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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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Apax Partners has hired Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and UBS to underwrite $1.1 billion of loans and bonds backing its leveraged buy-out of mobile operator Orange Switzerland from France Telecom
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Indonesian offshore oil and gas contractor Wintermar Offshore Marine has closed a $45 million loan
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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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Hull City Council has issued a request for qualifications on its £45 million ($69 million) extra care housing PFI project.
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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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First Reserve’s Energy Infrastructure Fund has bought a majority stake in the 225MW Trinity Power natural gas-fired power plant
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The Uganda Police Force has named the Ahadi consortium preferred bidder for three packages of its serviced accommodation and commercial facilities PPP
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Colombian utility Empresas Públicas de Medellín has closed a $349 million A/B loan financing with the International Finance Corporation.
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UK airport operator BAA has priced a Sfr400 million ($420 million) issue of five-year bonds
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FirstEnergy's Trans-Allegheny Interstate Line Company could be a candidate for a possible bond refinancing
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First bids on the sale of E.ON's 120,000km Open Grid Europe natural gas network are due on 20 January.
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Competitive Power Ventures has closed a $262.8 million financing for its Cimarron wind
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Synthetic fuels developer Rentech is providing Rentech Nitrogen Partners with a $40 million bridge loan to fund development of an ammonia and storage expansion
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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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Ortiz, Ibereolica and Fondo FES have signed the debt financing for their 50MW Velez Rubio wind project in Andalusia, Spain
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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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Colombia’s Ministry of Mines and Energy has awarded five projects with a total capacity of 575MW long-term offtake contracts.
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NaturEner has closed a $320 million construction loan for the 189MW Rim Rock wind energy project in Montana
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Canadian-listed upstream oil and gas independent Sea Dragon energy will use the proceeds of a C$75 million equity issue to part-finance the acquisition of interests in four oil and gas concessions
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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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AEI and Pattern Energy are expected to close about $200 million in debt for their 115MW El Arrayan wind plant in Chile
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The Indonesian city of Bandar Lampung has issued a request for qualifications for a $100 million drinking water supply PPP
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Samruk Energy has approached the European Bank for Reconstruction and Development for Eu50 million in debt
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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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Compagnie Benjamin de Rothschild, NGE and OFI Infravia have approached the Luxembourg authorities to obtain regulatory approval for a new fund
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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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Bouygues is on course to close the financing for the Eu660 million ($844.4 million) Paris courthouse PPP
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Enova Energy and NuPower have closed about $125 million in debt for the 37.5MW Plainfield biomass 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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The Blackstone Group is seeking approvals for its $1.9 billion Champlain-Hudson Power Express transmission line
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The insolvency administrator of bankrupt solar developer Solar Millennium is seeking buyers for its portfolio
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Barclays European Infrastructure Fund II (90%) and GTM (10%), a subsidiary of Vinci, have closed the financing for a French military sports centre PPP.
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Kansas City Power & Light has signed a 20-year power purchase agreement with enXco
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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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EverPower Wind is is set to close on $180 million in debt financing for its 139.4MW Twin Ridges wind plant
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Israel Corporation has bought a 75% stake in the Central Tierra Amarilla diesel-fired power plant in Chile.
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Wind Capital has closed a $293 million one-year construction loan for its 201MW Post Rock wind project in Kansas.
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An Khanh Electricity has closed a $143 million 10-year loan with sole bookrunner and mandated lead arranger Bank of China
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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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UPP has closed the financing for the University of Reading student accommodation PFI project.
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SPI Solar and its majority owner LDK Solar have closed $64 million in construction financing for solar photovoltaic projects
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Oakey Power Holdings (OPH), owner of the 300MW Oakey Power Station in Australia, has agreed a A$20 million ($20.5 million) refinancing with Commonwealth Bank of Australia (CBA)
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E-CL has received environmental approvals for its 100MW Calama wind farm in Chile.
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Bahrain-based property developer Nassej has signed an agreement with Bahrain's Ministry of Housing for a D208 million ($550 million) social housing PPP.
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The Puerto Rico Electric Power Authority has awarded Excelerate Energy the contract to build the Aguirre GasPort
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First Wind has closed or is near close on financings for two wind plants in Hawaii.
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Socar Trading and Aurora Progress have closed a $61 million loan with Apicorp and National Bank of Fujairah
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Underwriters National Australia Bank and EDC have launched the A$940 million ($940 million) 10-year term loan backing Plenary Health Finance’s Victorian Comprehensive Cancer Centre
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9Ren Espana has reached financial close on the 11.4MV Parco di Stalla photovoltaic plant in Italy
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JBIC has signed a $100 million loan agreement with the Central American Bank for Economic Integration (Cabei, or BCIE, according to its Spanish initials) to fund renewables projects in countries where the bank operates.
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The city council of Regina, Saskatchewan, has approved a 30- to 50-year concession for the Mosaic Stadium replacement
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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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Infrastructure Ontario has shortlisted Bondfield Construction, EllisDon and PCL Constructors for three Pan and Parapan American Games venues.
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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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AES Entek, a 50/50 joint venture between AES and Koc, has brought in Turkish pension fund Oyak as 50% sponsor of the Ayas coal-fired project
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Australian upstream oil and gas producer Santos has signed on $1.2 billion in export credit agency-covered and uncovered debt
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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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Project company Oleoducto Bicentenario de Colombia is scheduled to close about $720 million in Colombian peso-denominated debt for the $1.03 billion first phase of the $4.2 billion oil and gas pipeline.
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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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Mitsui has agreed to make a $12 million equity investment in the Tres Amigas power transmission project in New Mexico.
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The Nevada Public Utility Commission has approved an amendment and restatement to the power purchase agreement
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Esperanza Resources has mandated Euroscandic as financial adviser on the development of its Cerro Jumil gold project
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The government of Indonesia has closed a Y3.48 billion ($45 million)Japanese export finance loan to fund the purchase of a sub-sea electricity transmission cable
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Sacyr Concesiones has sold 49% stakes in two highway concessions in Chile
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Travis County, Texas, has selected Ernst & Young as adviser for its proposed $300 million civil and family courthouse public-private partnership
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AES Sonel has closed the Eu198 million debt financing for the $350 million Kribi gas-fired power project in Cameroon.
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Ecopetrol has closed the $3.5 billion in debt financing for the $5 billion Refineria de Cartagena
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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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Australian-listed Moly Mines has halted the development of the Spinifex Ridge molybdenum-copper project,
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Barclays Integrated Infrastructure Fund has paid Skanska £3 million for 50% of the Midlothian schools PFI concession.
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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.
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Chukotka Mining and Geological Company (CMGC), a subsidiary of Kinross Gold, has funded on the financing for the acquisition of a 25% stake in the Kupol gold and silver mine
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AES Eastern has filed for chapter 11 bankruptcy protection as part of an agreement with coal portfolio's bondholders.
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A joint venture of ACS subsidiary Urbaser and Balfour Beatty has been named preferred bidder for the Essex waste PPP contract
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WestLB has made a $25 million debt commitment to MBAC Fertilizer's Itafos single super phosphate project