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Latest Capital Markets Analysis
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District Energy Networks/Vicinity Energy, US
Power North AmericaAntin Infrastructure Partners made good on its commitment to grow its US presence at the end of last year with the $1.25 billion acquisition of Veolia’s District Energy Networks business. The French firm funded the purchase with a $770 million debt package that combined elements of corporate and project financing
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IJGlobal Webinar: Latin American Renewables Discussion
Renewables Latin AmericaIJGlobal – in partnership with LAC-CORE – this week hosted a webinar focused on renewable energy across Latin America
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Genneia, Argentina
Renewables Latin AmericaDevelopers in Argentina have faced an inhospitable project finance market since 2018, but the country's leading wind developer Genneia has managed to finance no fewer than 9 wind projects in the past 2 years, using creative structures including the company's first ECA-backed corporate loan
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Metro de Santiago, Chile
Transport Latin AmericaIn a market in which you increasingly see short-term project financing, such as mini-perms no longer than seven years due to the uncertainty brought up by the novel coronavirus pandemic, Santiago Metro has managed to raise 30-year debt
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esFaraday battery storage portfolio, USA
Renewables North AmericaIn a sector where there is often more talk than action, Californian developer esVolta cinched a landmark financing earlier this year for what it claims is the first large-scale standalone battery storage portfolio to reach financial close
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GSRP Portfolio I, US
Renewables North AmericaAt the end of last year, Goldman Sachs Renewable Power, a division of Goldman Sachs Asset Management, closed a $500 private placement to refinance one of the largest commercial and industrial-scale solar portfolios ever amassed in the US
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Termocandelaria Power Limited, Colombia
Power Latin AmericaIn January 2020, Colombia's Termocandelaria Power Limited built on its success in the international bond market with a $186 million tap to finance the conversion of a 20-year old peaker into what it says will be the country’s most efficient gas-fired generation project
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Pamplona-Cúcuta Highway, Colombia
Transport Latin AmericaThe $520 million Pamplona-Cúcuta highway, one of Colombia's stalled 4G projects, stuttered to financial close amid the Covid-19 pandemic
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Miami-Dade Courthouse, Florida
Social & Defence North AmericaAfter years of delays, Plenary Justice Miami has reached financial close on the Miami-Dade County civil and probate courthouse that will replace an existing courthouse so old that it once held a trial for Chicago mobster Al Capone
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SOFR, so good?
North AmericaAs lenders and borrowers prepare to say goodbye to Libor, also known as “the most important number in finance,” are project finance professionals ready?
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Asia's first infra loan securitisation platform
Oil & Gas Asia PacificClifford Capital and Asian Infrastructure Investment Bank announced last month the establishment of Bayfront Infrastructure Management – a platform to mobilise institutional capital for infrastructure debt in Asia. IJGlobal spoke with both equity holders to learn more
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Puerta de Hierro – Palmar de Varela 4G road, Colombia
Transport Latin AmericaThe latest project to reach financial close under Colombia's massive 4G road programme, the Puerta de Hierro – Palmar de Varela and Carreto – Cruz del Viso toll road crossed the finish line at a time when the Colombian government is pushing hard to move on the more troubled of the 4G projects ahead of the next generation of road concessions
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EXCLUSIVE North Marmara motorway refinancing, Turkey
Transport EuropeFinancial close was achieved mid-September on North Marmara motorway PPP, concluding a restructure process that ensures delivery of an essential piece of Turkey's infrastructure that is deemed critical to the nation's continued economic growth
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BNDES - dominant no more?
Latin AmericaThe day capital markets are the main source of infrastructure finance in Brazil, replacing institutions that can offer subsidized interest rates or artificially-long tenors, might come sooner than some expect
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Hedged solar opportunities in the Lone Star State
Renewables North AmericaAs project finance has become available for solar assets with financial hedges in Texas, sponsors that are bullish on the market have begun to explore innovative contract structures that preserve more potential upside for them − while still providing comfort to lenders and tax equity investors
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Quebec’s Library and Archives Canada P3
Social & Defence North AmericaThe Library and Archives Canada P3 project in Quebec reached financial close in April with a bank and bond financing structure. While closing took place earlier in the year, an announcement was not made until June due to a prolonged period of severe flooding in the Gatineau region
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Brazil's dynamic renewables market
Renewables Latin AmericaDevelopers are having to turn to new revenue and financing sources to meet Brazil’s ambitious non-hydro renewables generation targets
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Who’s afraid of the CLO?
Oil & Gas Asia PacificNot all financial instruments with three-letter acronyms are scary. CLOs for infrastructure debt are not only making a comeback but now being promoted as a solution to climate change
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Vías Chile bonds, Chile
Transport Latin AmericaVías Chile closed on 29 May the refinancing of a loan with the issuance of a bond in the Chilean stock exchange, the Bolsa de Santiago - sparking a future trend in the Chilean capital markets