Credit Suisse is running the potential sale for TAV Airport’s two largest shareholders, which own over 52% of the airports operator. The listed firm has a market capitalisation of around €1bn and may net a 20% premium from the sale.
Northern Territory Airports, which operates Darwin International and Alice Springs airports and is majority owned by Industry Funds Management, has announced A$350m of new bank facilities.
The HSBC spinout has managed to raise an extra $200m from investors to close what it is calling ‘the largest fund ever raised that focuses solely on greenfield infrastructure’. The vehicle has already committed more than $400m to a raft of projects.
The listed fund has raised just about £131m via a new share offer, increasing the fund's size to £428m. The proceeds 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 Dutch and Canadian pensions are investing through 'a convertible instrument maturing in five years' which will give them a stake in the developer. They also have the option to increase their investment to up to €750m.
Emerging Capital Partners, a pan-African private equity firm, and Investec, the South African fund manager, have forked out $32m and $20m respectively to a $52m equity round at IHS, an African tower infrastructure company.
The Dutch infrastructure fund manager is to acquire 80 percent of a portfolio of public-private partnership interests from Dutch infrastructure services provider Strukton. A unit of Strukton will remain responsible for the day-to-day management of the assets.
Some Spanish regions – like Castilla-La Mancha and Catalonia – have started to fall behind on their contractual payments to concessionaires.
Some Spanish regions – like Castilla-La Mancha and Catalonia – have started to fall behind on their contractual payments to concessionaires.
The second Indian infrastructure fund being raised by the London-listed firm will expand its investment remit to include areas such as education and healthcare, where the involvement of private capital has to date been limited.
Netherlands-headquartered infrastructure investor DIF is providing equity for the Noord Zuid Kempen availability-based project in Belgium, which features a 2.5-year construction phase and 30-year operational period. Bank finance has been committed by KBC, ING and SMBC.
Castilla-La Mancha is nine months behind its agreed shadow toll payments for a road concession awarded to an ACS subsidiary. Moody’s says there is ‘growing evidence that Castilla-La Mancha is prioritising core expenditures ahead of its payment obligations’ to the concessionaire.
Another large French high-speed rail project was influential as project finance activity slowed down in the third quarter.
A new bridge across the river Mersey – widely seen as one of the last big contracts remaining in the UK PFI pipeline – has been tendered. Potential bidders should submit their expressions of interest for the 30-year contract by December 14.
Strong demand has seen the Toronto asset manager raise an extra $60m in its recently announced public offering. Proceeds from the offer will be used to finance new Chilean acquisitions and its Australian portfolio. Brookfield will continue to hold 30% of its infrastructure unit.