The struggling infrastructure specialist has a 13 person team in India, which it may wind down as it seeks to sells assets globally to repay the A$3.2bn it owes to a syndicate of 25 lenders.
1 min read · 05 January 2013
The deal allows the troubled infrastructure fund manager to proceed with a sell down of its assets over a two to three year period as it begins to repay the A$3.2bn it owes to a syndicate of 25 banks on a 'pay if you can' basis.
2 min read · 05 January 2013
As the struggling firm continues its negotiations with its syndicate of lenders to restructure its balance sheet, it is warning investors that any agreement will likely leave “no value for equity holders” and “negligible or no value” for holders of the company’s subordinated debt.
1 min read · 05 January 2013
The Australian infrastructure specialist believes that it will be in a negative net asset position as of 31 December 2008 as a result of impairment charges, which will come from non-core assets being marked-to-market prior to being sold.
2 min read · 05 January 2013
Former Lehman Brothers investment bankers Michael Meyers and Sean Fitzgerald have joined Macquarie’s private placement team, where they will focus on raising equity for transactions.
1 min read · 05 January 2013
The sale of its remaining interest in the Te Rere Hau wind farm in New Zealand is part of the firm's plan to restructure by selling off non-core assets to pay down a debt load of A$3.25bn. Last month Babcock agreed to sell its interest in Portuguese wind assets in a €1.15bn deal.
2 min read · 05 January 2013
The fund’s official target is $600m, but its GPs are shooting for a more modest $400m in the current environment. The group's first cleantech fund of funds closed on $200m in 2007.
1 min read · 05 January 2013
Headed by Hong Kong-based managing director Philip Jackson, the Asian Infrastructure & Related Resources Opportunity fund is ultimately targeting $1.5bn in commitments for opportunities in China, India and other Southeastern Asian countries.
1 min read · 05 January 2013
Infrastructure investors active in the region can expect more club deals by banks and a resurgence of multilateral and export agencies as sources of liquidity, according to project finance lawyers at law firm Shearman & Sterling.
3 min read · 05 January 2013
Tim Pfister and Jay Fortin, project finance and M&A lawyers at Patton Boggs in New York, also believe the political climate for foreign investors is likely to improve as the US comes to grips with its massive infrastructure spending needs.
2 min read · 05 January 2013
