Cezary Podkul

But the ‘financial engineering’ of the future will be defined more by growth in hybrid and mezzanine debt and equity and less by over-leveraging of infrastructure projects, according to an infrastructure report by AMP Capital Investors.

But the ‘financial engineering’ of the future will be defined more by growth in hybrid and mezzanine debt and equity and less by over-leveraging of infrastructure projects, according to an infrastructure report by AMP Capital Investors.

In 2009, Americans have received warning after warning that their governments face alternatively a ‘decade of debt’ or a ‘lost decade’ due to massive, painful and protracted budget deficits that are here to stay. Opportunities are abound for infrastructure investors – but so are the pitfalls.

Thanks to a C$227.5m recapitalisation of the Dokie Wind Project in British Columbia, the first phase of the 300 megawatt wind farm will resume construction. Work halted on Dokie last year after now-bankrupt developer EarthFirst Canada could not finance the project.

Due to high demand, the US Department of Transportation’s infrastructure-lending program is now no longer accepting rolling applications for loans, and will instead require applications to be submitted by fixed deadlines.

Montreal-based Cordiant Capital will review and make investments on behalf of the Infrastructure Crisis Facility Debt Pool formally launched at the October meeting of the World Bank. Investors in the pool include the German Government, the European Investment Bank and Proparco.

In 2009, Americans have received warning after warning that their governments face alternatively a ‘decade of debt’ or a ‘lost decade’ due to massive, painful and protracted budget deficits that are here to stay. Opportunities are abound for infrastructure investors - but so are the pitfalls.

Contrary to what one might expect, a lot of managers are finding 2009 to be a good time to launch an infrastructure fund. From curious investors in emerging markets to helping hands from governments, there are plenty of reasons to be planning a roadshow.

Under a pre-agreed reorganisation plan, Macquarie will receive a gift of 2% equity in Express Energy Services once it reemerges from bankruptcy. The $627m deal in which Macquarie and its partners bought 65% of the Texas-based company closed in July 2008, when oil prices stood at a historic high.

Management of the NYSE-listed Macquarie Infrastructure Company now say their attempt to sell struggling Parking Company of America won’t conclude until next year. The sale will likely be completed alongside a bankruptcy filing.