PORTFOLIO OF TRANSACTIONS

The following list represents selected transactions in which the team has gained its extensive experience.

TRANSPORTATION

• Viaduc de Millau: €573 million 44-year index-linked financing, structured and guaranteed¹ jointly with another financial guarantor. The transaction was named “European Transport Refinancing of the Year” by Project Finance Magazine.
• Sanef: €1.5 billion 17-year guaranteed¹ loan for Sanef (Société des Autoroutes du Nord-Est de la France). The financing is guaranteed¹ equally by MBIA and another financial guarantor. 
• National Air Traffic System (NATS, UK): £600 million 23-year bond financing.
• European airport: €745.7 million, split between 20-year and 7-year debt.
• Leon Astorga Toll Road (Spain): 30-year €40 million financing.
• REFER (owner and operator of rail tracks in Portugal): €500 million 5- and 6-year bonds.
• Transurban City Link (Melbourne, Australia): An aggregate of A$1.1 billion of bonds.
• Toll Road Funding (Autostrade, Italy): €1.025 billion 10-year FRNs.
• Fixed-Link Finance B.V. 1&2 (Eurotunnel): Various series of debt with maturities of up to 25 years, £1.092 billion in aggregate.
• Southern Cross Airports (Sydney Airport), Australia: A$3.2 billion bonds of various maturities (up to 14 years).
• Southern, central European country’s toll road authority’s obligations: MBIA guaranteed, through reinsurance, payment obligations of the country relating to a US$250 million loan taken out by the 100% state-owned highway authority. The loan proceeds were used to finance the construction of a 154km length of motorway.  

PPP and PFI

• Limerick Tunnel (Ireland): 34-year €480 million index-linked debt, partially provided by the EIB
• Road Management Services (A13) Plc (UK): £200 million 28-year index-linked bonds and 27-year EIB loan, guaranteed¹ jointly with another financial guarantor 
• Road Management Consolidated (UK), £273 million 30-year bond and EIB loan
• Swindon & Marlborough Hospital (UK): £159 million  23-year bonds
• Coventry and Rugby Hospital (UK): £446 million 38-year bonds
• HpC King’s College Hospital (UK): £95 million 38-year bonds
• Healthcare Support (North Staffs) Finance Plc (UK): £362 million 36-year index-linked bonds and 32-year EIB index-linked loan
• Aspire Military Housing (UK): £884 million 34-year bonds, guaranteed¹ jointly with another financial guarantor
• Derby Healthcare Plc (UK): £446.6 million 38-year bonds
• Dartford Hospital (UK): 28-year £140 million index-linked bonds
• Exchequer Partnership Plc (HM Treasury): £127.8 million 35-year index-linked bonds guaranteed¹ jointly with another financial guarantor
• Stirling Water Seafield Finance Plc (Scotland): £108.9 million 27-year bonds
• Caledonian Environmental Services Plc (Scotland): £63.6 million 37-year bonds

UTILITIES & RENEWABLES

• Financing of LNG terminals in Spain (BBG and Saggas): 20- & 23-year loans, €480 million in aggregate
• Minicentrales (Renewables, Spain & Portugal): €208 million 30-year guaranteed¹ bond
• Southern Water Services (UK): Various series of bonds, £1.05 billion in aggregate
• Anglian Water Services (UK): Various series of bonds, £1 billion in aggregate
• Dwr Cymru (Financing): Various bonds, £300 million in aggregate
• National Grid Gas (UK): Various bonds, £300 million in aggregate
• National Grid Electricity Transmission (UK), £150 million maturing in 2039
• Breeze 3 (Renewables, Germany & France): 20-year €300 million bonds

OTHER SUB-SOVEREIGN INFRASTRUCTURE

• Universities of Valencia (Spain): €450 million 15-, 20- & 25-year financing, 50% bonds and 50% EIB loans
• CACSA (Spain): €600 million, 10-, 20- and 22-year loans, 50% provided by the EIB and 50% by a syndicate of banks
• Comboios de Portugal (Polo I, II and III), €1,029 million various bonds
• White City (UK), £360 million bonds maturing in 2035
• BBC Broadcasting House, £813 million bonds maturing in 2033