PortlandPortland

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $4.6 billion debt financing for the Coral South FLNG project, where Portland acted as ECA Advisor to the export credit agencies, has been awarded “2017 Middle East & Africa Oil & Gas Deal of the Year” by Project Finance International.

Portland advised Bank of China, China Development Bank, China Eximbank, ICBC, KEXIM, KSURE, SACE and BPI (COFACE).

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

By Nick Flitterman

Yamal LNG Signs Final Loan agreements

Yamal LNG Signs Final Loan agreements

Today,  Yamal LNG signed 15 year loan agreements with the Euler Hermes and EKN for amounts of  €200 million and €225 million respectively.

Portland advised Euler Hermes and EKN in relation to this financing. The financing is the final piece of the overall $19 billion financing for the Yamal LNG project which also comprises facilities from Chinese and Russian lenders and loans supported by SACE, COFACE and JBIC.

Portland also advised China Development Bank, China Eximbank, EXIAR (the Russian export credit agency), SACE, COFACE and JBIC in relation to this ground-breaking financing.

For further information, contact Geoff Knox on geoff.knox@portlandadvisers.com

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $1.4 billion financing for the Offshore Cape Three Points project, where Portland acted as Financial Advisor to UK Export Finance, has been awarded “2016 African Oil & Gas Deal of the Year” by Project Finance International. The picture shows the UKEF and Portland team at the Awards Dinner at which the award was presented.


From left to right: Oliver Irwin (Milbank), Iain Hackston, Margaret Eyres (UKEF), Joe Shephard (UKEF), Keith O’Donnell, Frauke Bialokoz, Tim Loy (UKEF), David Craig (UKEF), Geoff Knox and Richard Simon-Lewis (UKEF).

By Nick Flitterman

Offshore Cape Three Points (OCTP) Closes

Offshore Cape Three Points (OCTP) Closes

Loan signing on the $1.35 billion limited-recourse debt financing for Vitol’s working interest in the Offshore Cape Three Points/Sankofa oil and gas project in Ghana, West Africa took place today.

The financing has a hybrid structure combining Reserve Based Lending (RBL) and Project Finance features. Debt facilities were provided by UK Export Finance (UKEF), IFC and a syndicate of commercial banks.

Portland advised UKEF throughout the negotiation and documentation of this transaction.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com or Frauke Bialokoz on +44 20 7183 8386 or frauke.bialokoz@portlandadvisers.com

By Nick Flitterman

Portland advises on $12bn project financing for Yamal LNG

Yamal LNG signs $12 billion Chinese loan deal

On 29 April 2016 the Yamal liquefied natural gas (LNG) project signed 15 year loan agreements with Export-Import Bank of China and the China Development Bank equivalent to $12 billion.

Portland advised the Chinese banks in relation to this financing.

The project has already secured state loans of 150 billion roubles ($2.3 billion) from Russia’s National Wealth Fund and $4 billion equivalent from Russian lenders Sberbank and Gazprombank.

Yamal LNG is a 16.5 mtpa LNG project located in Western Siberia, owned by Novatek OAO, (50.1%), Total SA (20%), CNPC (20%) and China’s Silk Road Fund (9.9%).

 

For more information, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

By Nick Flitterman

US Ex-Im Bank board approves Indian Solar PV project

US Ex-Im Bank has announced that its Board of Directors has approved an export finance loan of US$ 9 million as part of the debt financing for a 11.6 MW solar PV project in Rajasthan, India sponsored by KSK Energy Ventures, an Indian power developer. Debt is being co-financed by IDBI Bank Ltd. Portland Advisers is acting as financial adviser to US Ex-Im Bank.

The solar panels for the project have been procured from Miasolé, a pioneer in the development of copper indium gallium selenide (CIGS) thin-film PV solar panels which are among the highest-efficiency and lowest-cost solar panels.

Click here for the official press release from US Ex-Im Bank.

For further information contact geoff.knox@portlandadvisers.com

 

 

By Nick Flitterman

Portland Thought Leadership in Nuclear Power financing

David Stearns, who leads Portland’s nuclear power practice, recently published a thought piece in Nuclear Intelligence Weekly, offering perspectives on nuclear power as an asset class and the outlook for attracting low-cost capital for new-build projects.

A copy of the article can be found by clicking here.

For further information, contact David at david.stearns@portlandadvisers.com or on +44 20 7183 9764.

 

Portland

By Nick Flitterman

Portland wins Green Africa Power advisory mandate with PIDG Trust

Portland Advisers, as part of the Trinity Consortium also including Trinity International LLP, a law firm with a specialised focus on Africa, and Evolution Markets, a carbon broker  and transaction structuring firm, has won the advisory mandate to progress the development of PIDG’s Green Africa Power (“GAP”) initiative.  Each of the three members of the consortium brings together directly relevant experience in relation to the GAP concept and in developing a comprehensive business model for GAP respectively.

GAP’s overriding purpose is to facilitate the development of renewable power generation capacity on a broad scale in sub-Saharan Africa, one of the most power starved regions in the world, and, in doing so, providing a platform for further socio-economic development. Using funds from donor nations, GAP intends to apply a variety of support instruments  that are being designed to directly address the typical weaknesses and restrictions that cause projects in these regions to stall before financial close.

For further information please contact either Klaus Frietsch (klaus.frietsch@portlandadvisers.com / 020 7183 8394) or Darryck Luiz (darryck.luiz@portlandadvisers.com / 020 7183 8391).

Portland Wins PFI Award
Yamal LNG Signs Final Loan agreements
Portland advises on $12bn project financing for Yamal LNG
Portland
Portland wins Green Africa Power advisory mandate with PIDG Trust