Bruno Alves
Together with UK-based NATS, the Spanish developer will provide air traffic control services at 10 Spanish airports. Local private air traffic control company Saerco was awarded the contract for three other Spanish airport control towers.
The proceeds from the new fundraising will be used to buy nine operational PPP projects from John Laing, increase a stake in an existing project, and reduce the fund’s debt. The fund is also in negotiations to acquire a ‘small portfolio of third-party social infrastructure assets’.
John Laing Infrastructure Fund has spent close to £23m to acquire a 50% stake in a Scottish hospital PFI from the Commonwealth Bank of Australia. The fund has also extended a revolving credit facility with Royal Bank of Scotland by £35m.
BBVA and KfW IPEX are providing €120m of debt to help fund the refurbishment, operation and maintenance of 46.5km of Germany’s A9 highway. Vinci and BAM PPP will contribute €12m in equity with the German government providing the €88m balance.
Following the closing of the €7.8bn Tours-Bordeaux high-speed rail line, Eiffage and rail agency RFF have secured financing for the €3.3bn Bretagne Pays de la Loire line. But the latter has a fundamentally different risk profile than the former, which is highlighted in the financing.
Infrastructure debt funds have been a talking point for a while, but with little in the way of tangible achievement on the fundraising trial. And then along came Westbourne Capital.
The EIB hopes that its project bond initiative will help it step back from the prominent lending role it has assumed following the global financial crisis. But the new initiative may originate another cycle of EIB-dependence.
Lord Stern, who produced a landmark report on climate change, is part of a group of nine advisors appointed by the government to help 3i’s Sir Adrian Montague set up the UK’s Green Investment Bank.
The country’s Privatisation Administration is looking for a private partner to operate and maintain some 2,000km of roads – including Istanbul’s two suspension bridges, which are said to comprise up to 80% of the deal’s total value. Interested bidders will have to post a $200m bond to participate.
Managers raising Euro-denominated infrastructure funds are anxious about prospects in the aftermath of the Eurozone’s dramatic summer.