Latest Capital Markets Analysis

  • EXCLUSIVE Arroyo Seco and Timbúes CHPs, Argentina

    Project finance is finally taking off in Argentina’s energy sector after a years-long dry spell, with only a precious few projects making it to financial close in 2017. Now Argentina’s second-largest energy producer Albanesi Energia has closed the financing for two cogeneration heat and power plant projects in Santa Fe

  • More to Colombia than just 4G

    Colombian cities are following the lead of the capital Bogota and are trying to launch a pipeline of infra PPPs

  • Infra fund activity – lot more than you'd think

    As a young journo working the local press world in 1990s north east Scotland, an old editor – a grizzled hack bearing the scars of hard-living hackery – once said: “Angus, the difference between doctors and journalists is that doctors get to bury their mistakes, ours are out there for everyone to see”

  • EXCLUSIVE The Colombia 4G slow down

    Distrust in the government and corruption scandals have made most banks hit the brake

  • Private placements and investors' expanding appetites

    A few years ago, private placements in infrastructure were primarily focused on refinancings. Now, the private placement market has evolved in a number of ways enabling institutional investors to increasingly participate in infrastructure M&A deals, to act on the origination of deals, and going in as primary investors

  • 4G Colombian road sets new financing standard

    The financing of the road Ruta al Mar may represent a new financing paradigm with a combination of bonds and loans; first private international emission; use of local currency.

  • Bankers worried about low Mexican electricity prices

    Low prices on the third long-term power auction are at the same time seen as a measure of the success of the Mexican energy reform and as a cause for concern

  • Philippines: Build! Build! Build!

    President Rodrigo Duterte has signalled his resolve to lift the Philippines economic growth rate by building infrastructure at the fastest pace possible. So who will fund what the administration has dubbed the “Build! Build! Build” programme?

  • Acwa Power’s project-backed bond, Saudi Arabia

    Saudi Arabian developer Acwa Power’s recently closed project-backed bond issuance unlocks some $814 million in capital for the firm in what is its first investment-grade offering secured against operational assets

  • Northwest Parkway acquisition, US

    The financing of the acquisition of the Northwest Parkway toll road in Denver, Colorado, has gone beyond prior toll road acquisitions last year to further utilise and test the liquidity of the US private placement market

  • Interview: Mainstream's Bart Doyle

    Mainstream Renewable Power was one of the first international developers to enter the Chilean renewables market in 2008, but it has been most active in the last 18 months

  • Data Analysis: North American upstream uptick

    Not since 2014’s second and third quarter has the upstream space in North America seen such a surge in deals as during the second half of 2016 to date

  • Asia project bonds: ready for take-off

    A plentiful supply of cheap bank debt in Asia Pacific has meant the region has had little need for a project bond market. Until now

  • Questioning PABs

    As the private activity bonds that financed a portion of the Indiana 1-69 PPP are downgraded to junk, the financing instrument comes under scrutiny

  • Bond bounce in H1

    The half-yearly value of bond financings backing energy and infrastructure projects has been rising globally since the end of 2014, and grew again in H1 2016, according to IJGlobal’s latest league table report

  • Global M&A volumes hit by political uncertainty

    The volume of merger and acquisition (M&A) transactions had already fallen globally this year before the UK’s vote to exit the EU spread uncertainty through the market. Though concerns attached to Brexit are anticipated to subside in the coming months, the US election at the end of the year is expected to create additional uncertainty

  • Data Analysis: Sharp fall in US oil & gas volumes in H1

    Whereas the power sector saw modest growth in terms of total deal value, renewables slowed by nearly 30% and oil & gas fell by a staggering 75%

  • Purple Line light rail transit PPP, US

    The $2 billion Purple Line light rail transit (LRT) PPP project is the second ever transit PPP to reach financial close in the US, following on from the Denver's $1.6 billion Eagle LRT project closed in 2010, and is the first rail PPP for the state of Maryland

  • RARE: Unlisted returns to listed assets

    Risk Adjusted Returns to Equity (RARE) Infrastructure was established in Australia in 2006 as an investment management company focused exclusively on global listed infrastructure

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