Andy Thomson
Privately financed infrastructure projects in the UK may have been rated too conservatively according to an infrastructure investment analyst, who calls for a reassessment from the ratings agencies.
3i Infrastructure, the London-listed infrastructure investor, has signed a new £200m revolving credit facility with a five-member banking syndicate. It replaces an equivalent £225m facility due to expire next month, and will be used as a ‘bridge to equity’ to finance future transactions.
It’s been a quiet couple of years for infrastructure investors in France, but the country now finds itself the focus of considerable expectation. As part of its stimulus package to deal with the global financial and economic crisis, the government introduced support for infrastructure projects which was designed to ease their flow through the pipeline. With a good legal framework, a sober approach to financing and increasing investor demand for exposure to the Eurozone, hopes of progress are high. But might optimism yet be frustrated by bureaucracy? Andy Thomson sought the views of five of France’s leading infrastructure practitioners.
The provider of junior capital to Central and Eastern European businesses has held a €140m first close on its second fund.
The treatment of unsecured lenders in Europe may have severe repercussions for future liquidity, writes Andy Thomson.
Europe’s high yield uptick may offer improved prospects for LBO refinancings, writes Andy Thomson.
Industry heavyweight Henry Kravis’s message to delegates at the World Economic Forum in Davos today was that the private equity model is far from broken. He also said he anticipates financial services regulation 'coming in a major way'.
As private equity write-downs proliferate, the secondaries market is providing much-needed cheer, writes Andy Thomson.
The Northern European buyout firm has more than doubled the size of its previous fund, and opened offices in Oslo, Frankfurt and London.
As a result of the financial crisis, investors may focus even more closely on the quality of GP reporting. And that's good news for private equity administration specialists in Asia, Andy Thomson discovers.