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By Nick Flitterman

Portland closes $500m financing for Seaborn Networks

Portland closes $500m financing for Seaborn Networks

Nick Flitterman and James Benbow from Portland’s telecom team advised Seaborn Networks on the successful project financing for the new Seabras-1 subsea cable connecting New York and Sao Paolo. The senior debt will be guaranteed by the French Export Credit Agency, COFACE, and funded by a bank syndicate of Natixis, Santander, Commerzbank and Banco Intesa. Equity will be provided by Partners Group. The transaction is a landmark deal as the first ECA-backed project financing in over 10 years.

More about Seaborn and the Seabras-1 project can be found here on the company website, or visit our case study page here.

For further information contact Nick Flitterman on +44 20 7183 8385 or nick.flitterman@portlandadvisers.com

 

By Nick Flitterman

Portland advises O3b on a further $460m of financing

O3b Networks closes $460M of new financing to expand its constellation

Continuing the successful relationship with O3b Networks that started with its original financing in 2010, Portland’s Nick Flitterman and Darryck Luiz advised the company on completing its fourth financing in 6 years to fund the expansion of the constellation from 12 to 20 satellites in response to a growing customer demand.

More information on O3b and its successful start to operational life can be find on the company website here.

For further information on this transaction or in relation to satellite financing, contact Nick Flitterman on +44 20 7183 8385 or nick.flitterman@portlandadvisers.com

 

By Nick Flitterman

Portland expands into Asia

Portland Advisers has added two further consultants in response to expanding demand for its specialist project finance advisory services and is opening an office in Hong Kong.

Christopher Green has over 13 years experience in project and export finance both in advisory and arranging roles in Asia Pacific covering a wide range of sectors including telecom, infrastructure, power, steel, manufacturing, oil and gas, financial institutions and sovereign debt. Prior to joining Portland, Chris was Regional Head of Export Finance, Asia Pacific at HSBC for over nine years and before that was with Citigroup’s Project and Export Finance business in both New York and Hong Kong.

In his various roles, Chris has successfully advised on or arranged over US$20 billion in debt through a combination of project, structured corporate, corporate, financial institutions and Sovereigns across Asia – including China, Korea, Japan, Indonesia, Vietnam, Hong Kong, Sri Lanka, Bangladesh, India, Australia, Malaysia and the Philippines and brings considerable expertise in structuring and delivering ECA, MIGA and multi-lateral funded transactions.

Chris will be based in Hong Kong.

Seb Bowden is a highly experienced technical financial advisor, specialising in financial modelling and analytics. He has over 15 years’ experience in PFI/PPP, project finance, private equity and property gained at accountancy firm Grant Thornton and Quintain Estates & Developments Plc.

Seb will be based in London.

Starting with a team of just 3, Portland headcount has now reached 14.

Nick Flitterman and Geoff Knox, co-founders of Portland, said: “We are delighted to welcome Chris and Seb to the Portland fold. The establishment of a presence on the ground in Asia, where we see considerable opportunity, is a significant step for Portland on its growth trajectory.”

By Nick Flitterman

Philp on Financial Fair Play – Portland on the BBC again

The BBC once again sought the input of Portland’s Head of Stadia Financing, Harry Philp as it ran a piece of the topical subject of Financial Fair play this week.

Harry shares the benefit of his experience of working in football financing to opine on what stance UEFA may take on sponsorship as part of FFP, and in particular as it might impact Manchester City and Paris St. Germain – two of the clubs benefiting from ‘close to home’ sponsorship. The full article can be found by clicking here.

To discuss this further, Harry can be contacted at harry.philp@portlandadvisers.com or +44 20 7183 8392

By Nick Flitterman

Portland on the state of Italian football

The BBC once again sought the input of Portland’s Head of Stadia Financing, Harry Philp as it ran a piece of the state of Italian football this week.

Covering topics from TV revenues, to football stadia, sponsors and match day ticket prices, Harry shares the benefit of his 10 years experience of working with Italian football clubs. The full article can be found by clicking here.

To discuss this further, Harry can be contacted at harry.philp@portlandadvisers.com or +44 20 7183 8392

By Nick Flitterman

Portland on the BBC

Harry Philp, Portland Advisers’s Head of Stadia Financing, was interviewed on the BBC’s “Talking Business with Linda Yueh” TV programme ” on 1st March 2014 with the focus of discussion on why foreign investors buy British football clubs.  Harry entered into a lively debate and gave his insight from a financial perspective.

To see the interview in full on the BBC iplayer, click here. The start of the discussion can be found at 12 minutes 15 seconds into the programme.

For further information or to discuss football stadia financing, contact Harry directly on harry.philp@portlandadvisers.com or +44 20 7183 8392.

By portland2015a

Portland Secures Two More Mandates

Portland Advisers has secured two new financial advisory mandates – one in the UK raising construction finance for two solar parks and the other providing bidding support for a waste infrastructure project in Greece.
The former is to raise finance on a short term basis for two solar parks in the South West of the UK with a nameplate capacity of c. 15MW. A potential lender has been identified and at present a comprehensive due diligence exercise is under way with EPC / solar panels most likely being sourced from Germany. Financial Close is envisaged for late December 2013 and construction of the plants will commence in December with the objective of having the plants grid-connected prior to 31 March 2014 in order to achieve 1.6ROC/MWh revenue support.
In Greece, Portland is advising a Greek construction consortium for two infrastructure projects (waste) – one project located in the Athens area and the other located in the Patras area. Both projects will use MBT technology sourced from a highly experienced German supply chain. The consortium has been pre-qualified and after a competitive dialogue with the authorities will have to provide a financial and technical binding bid with the target date of April 2014. Portland is advising how to best structure the debt portion of the transaction.

For further information contact Klaus Frietsch at klaus.frietsch@portlandadvisers.com or on +44 20 7183 8394 or Mike Harlow at mike.harlow@portlandadvisers.com or on +44 20 7183 7200

By portland2015a

Green Chairs Panel at Euromoney Institutional & Alternative Lender Conference

 

Monday, September 23rd, 2013

In the conference season, Jason Green, Senior Advisor at Portland, chaired a panel discussion amongst institutional investors and asset managers at Euromoney’s inaugural Institutional & Alternative Lending conference in London on 19th-20th September.

With representatives from Allianz Global Investors, Legal & General Investment Management, Aviva Investors and the world’s largest asset manager, Blackrock, Jason guided the panel through a lively discussion of how the big institutions are providing liquidity to Global Project & Infrastructure deals in the wake of continued bank market weakness.  Topics covered included the growth of privately-placed institutional debt as an alternative to bank finance and traditional public securities, the increased acceptance by pools of investors of greenfield project risks and some of the implications of Solvency II on institutional appetite.  Many of the top credit managers, opportunities funds and direct lending institutions, all known to Portland Advisers, were present.  They are playing a growing and increasingly important role in global financing markets, not only in addressing market failure, but as key providers of liquidity for high quality, long term projects.

For further information see the Euromoney Conference website here or contact Jason directly on +44 (0) 20 7183 8288 and at Jason.green@portlandadvisers.com

 

By Nick Flitterman

Knox acts as Expert Witness

Geoff Knox acted as an expert witness to the Supreme Court of Western Australia in the recently settled $3.5 billion lawsuit filed by Perdaman Chemicals against an Australian subsidiary of Lanco Infratech Limited.

Geoff was approached to use his experience of raising non-recourse project financing for major projects to provide input into matters surrounding the debt financing of the financing of Perdaman’s proposed $3.8 billion urea project at Collie, Western Australia, which collapsed in 2011.

For further information click here

 

 

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Portland closes $500m financing for Seaborn Networks
Portland advises O3b on a further $460m of financing
Portland in the Economist
Portland expands into Asia