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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

Portland’s Seabras-1 financing named “Best Deal of 2015”

Portland’s Seabras-1 financing named “Best deal of 2015”

Following the achievement of Financial Close late in 2015, the landmark nature of the transaction has now been recognised as the Seabras-1 cable project was awarded “Best Deal of 2015” by Global Trade Review. Seabras-1 is the first Export Credit Agency-backed project financing of a subsea cable project in the history of the global telecommunications industry.

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

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 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 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 advises on $12bn project financing for Yamal LNG
Portland’s Seabras-1 financing named “Best Deal of 2015”
Portland closes $500m financing for Seaborn Networks
Portland advises O3b on a further $460m of financing
Portland in the Economist