Bouygues wins MoD
The Bouygues, Sodexo, Thales team has won the French Ministry of Defence PPP headquarters scheme at Balard beating Eiffage and Vinci. The scheme will cost €600m and is worth €3bn over the 30 year life. The government will pay the Bouygues team €125m-130m pa as the unitary charge. Bouygues is being advised by Dexia and Natixis. Deloitte & Touche is advising the government.
Top Stories
State-by-state sell-off
New governors and mayors are looking at asset sell-offs and leases in many states and major cities despite consistent negative public sentiment. Even in the face of uncertain state budgets and appropriation risk, there seems to be no shortage of bidders and financial backers. By Alison Healey.
Reliance Rail a worry
The A$3.6bn Reliance Rail project PPP has a lot riding on a successful outcome. The project has been plagued with increased costs and delays, ratings downgrades and the financial ability to secure new funds either through debt or equity. By John Arbouw.
UK hospitals back on
The UK hospital private finance initiative sector is set for a significant upswing in activity, in stark contrast to many other parts of the PFI sector in the UK. Indeed, the UK PFI now appears to be limited to hospitals, waste and some of the mega transport deals. By Rod Morrison.
Reuters TV: Russian Railways CEO says IPO may be brought forward
Russian Railways CEO says IPO may be brought forward
Russian Railways Chief Executive Vladimir Yakunin says plans to privatise the state monopoly could be brought forward, but adds 2013 remains the most realistic timetable for the initial share sale.
PF MLA 2010
| # | Arranger | (US$m) |
| 1 | SBI Capital | 21,136.9 | |
| 2 | Bank of Taiwan | 12,005.1 | |
| 3 | IDBI Bank | 11,091.4 | |
| 4 | Axis Bank | 8,512.2 | |
| 5 | BNP Paribas | 8,338.5 | |
| 6 | Credit Agricole | 7,614.5 | |
| 7 | IDFC | 7,371.1 | |
| 8 | Mitsubishi UFJ | 6,000.5 | |
| 9 | Societe Generale | 5,487.4 | |
| 10 | SMBC | 4,589.7 | |
PFI Comment
Stability and risk
Is political stability good for political risk? The obvious answer is yes. And in the projects world, with big capex to fund, most definitively yes.
Features
RBL - Your flexible friend
Reserve-based lending is enjoying something of a resurgence. By Andrew Hart, partner, and Alex Childs, associate, in the energy practice at Fulbright & Jaworski International LLP in London.
Contours of a portfolio PF
An innovative portfolio project financing structure allows individual plants to be financed quickly at low cost and allows for project financings to occur in both developed and emerging markets. By Paul Hunt, Luis Torres and Chris Blickley of Latham & Watkins LLP, Washington, DC, counsel to ContourGlobal LP.
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