Following the withdrawal of four Hochtief candidates originally seeking re-election, ACS pushed through its list for the German firm’s board of directors at yesterday’s annual shareholders meeting.
The listed UK infrastructure investor’s latest interim management statement shows its portfolio performing ‘in line’ with expectations. The statement also flags a strong pipeline of opportunities, a small capital raising and a renewal of the firm’s corporate debt facility.
The Canadian investment bank has bolstered its infrastructure and project finance advisory team with the appointments of Sekhar Angepat and Andrew Fleming from Canadian rival RBC Capital Markets.
The UK-based developer has reached financial close on a £203m street lighting PPP contract in Cambridgeshire, England. The 25-year concession will see the firm invest £5m of equity.
The two tenders out to market for the Madrid-Galicia high-speed rail line are Spain’s biggest ever contracts in the high-speed rail sector.
Australia’s 2011-12 federal budget includes measures designed to lure greater private investment into infrastructure projects in the country.
The Spanish firm wants four of its representatives to sit on Hochtief’s board of directors as its shareholding in the German company surpasses 43%. Hochtief had proposed earlier that ACS continue to hold just two seats on its supervisory board.
The EC and EIB’s plans to credit-enhance private sector infrastructure bonds do not guarantee those bonds an A-rating, Fitch has said in a report.
International Public Partnerships Limited (INPP), the UK-listed infrastructure investor, is part of the GoldLinQ consortium that has been named preferred bidder for the Gold Coast Rapid Transport public-private partnership in Queensland, Australia.
The UK-listed infrastructure investment firm more than doubled its portfolio income during the last financial year, according to annual results released today. The firm upped its investment rate during the period, putting nearly £200m to work.
The EU/IMF bailout of Portugal hints at a new type of risk for investors: be ‘complicit’ with investment programmes of dubious fiscal soundness and you may be made to pay the price further down the line.
International law firm Hogan Lovells has bolstered its infrastructure and project finance practice in London with the appointment of two new energy partners.
Portugal will have to look into its PPP contracts with a view to ‘reduce the government’s financial obligations’ as part of the €78bn EU/IMF bailout provided to the country. The bailout also encourages the government to try and reduce feed-in tariffs for existing renewable contracts.
The US-based fund manager has closed its first energy infrastructure fund on $1.2bn after around 17 months on the fundraising trail. The fund had a target size of between $1bn and $1.5bn.
The European PPP Expertise Centre found that the average tenor for senior debt exceeded 20 years in 2010 with average loan margins hovering between 240bps for construction and 275bps when loans approach maturity. 112 PPP deals worth more than €18bn reached financial close last year.