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ARTICLE · 15 MAY 2008

Infrastructure: The Current Climate

Following the Infranews event that we hosted at the end of February, this briefing examines the current state of the infrastructure market.

United KingdomFinance and Banking
Nicholas Bliss
Nicholas Bliss

Following the Infranews event that we hosted at the end of February, this briefing examines the current state of the infrastructure market

Debt

  • The credit crunch continues to affect deals in the sector. Market conditions have deteriorated since we hosted the Infranews Conference in February.
  • With the monolines effectively sidelined, there is a greater focus on bank funding for infrastructure deals. On the £2.4bn FSTA Crown-backed PFI project, in which we were involved, the deal started as a wrapped bond issue. Ultimately, seven banks provided £2.2bn of senior debt funding at the end of March.

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